Aspen Aerogels (NYSE:ASPN) Sees Strong Trading Volume After Analyst Upgrade

Aspen Aerogels, Inc. (NYSE:ASPN) saw strong trading volume on Friday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $28.00. Canaccord Genuity Group currently has a buy rating on the stock. 1,763,899 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 1,084,029 shares.The stock last traded at $25.51 and had previously closed at $23.85.

ASPN has been the topic of several other reports. TheStreet upgraded shares of Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. B. Riley increased their price target on shares of Aspen Aerogels from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Roth Mkm reiterated a “buy” rating and issued a $22.00 price target on shares of Aspen Aerogels in a research report on Tuesday, April 30th. HC Wainwright increased their price target on shares of Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler increased their price target on shares of Aspen Aerogels from $20.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.17.

Institutional Trading of Aspen Aerogels

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Aspen Aerogels during the first quarter worth approximately $1,181,000. BNP Paribas Financial Markets raised its stake in Aspen Aerogels by 85.2% during the first quarter. BNP Paribas Financial Markets now owns 25,706 shares of the construction company’s stock worth $452,000 after purchasing an additional 11,823 shares during the period. Bridgewater Advisors Inc. purchased a new position in Aspen Aerogels during the first quarter worth approximately $750,000. Assenagon Asset Management S.A. purchased a new position in Aspen Aerogels during the first quarter worth approximately $636,000. Finally, Harbour Capital Advisors LLC purchased a new position in Aspen Aerogels during the first quarter worth approximately $404,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Aspen Aerogels Stock Performance

The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.93 billion, a PE ratio of -57.07 and a beta of 1.97. The stock’s 50 day simple moving average is $16.72 and its two-hundred day simple moving average is $13.73.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $84.22 million for the quarter, compared to the consensus estimate of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. During the same quarter last year, the firm posted ($0.20) earnings per share. As a group, research analysts anticipate that Aspen Aerogels, Inc. will post 0.03 earnings per share for the current year.

About Aspen Aerogels

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.