Aspen Aerogels (NYSE:ASPN) Issues FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.110-0.110 for the period, compared to the consensus EPS estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays assumed coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 target price for the company. TD Cowen raised their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Aspen Aerogels to a “sell” rating in a research note on Thursday, October 31st. Piper Sandler decreased their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Roth Mkm decreased their target price on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and an average price target of $28.90.

Aspen Aerogels Price Performance

ASPN stock traded down $0.28 during midday trading on Friday, reaching $16.49. The company had a trading volume of 4,214,385 shares, compared to its average volume of 3,088,569. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 1,650.65 and a beta of 2.21. The stock has a 50 day moving average price of $23.10 and a 200-day moving average price of $24.61. Aspen Aerogels has a 1-year low of $8.76 and a 1-year high of $33.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. The firm had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. Aspen Aerogels had a return on equity of 5.08% and a net margin of 0.36%. The business’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. Equities research analysts expect that Aspen Aerogels will post 0.1 earnings per share for the current year.

Insider Buying and Selling at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

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.