Aspen Aerogels Inc. (ASPN) Coverage Initiated by Analysts at Craig Hallum
Investment analysts at Craig Hallum initiated coverage on shares of Aspen Aerogels Inc. (NYSE:ASPN) in a research report issued to clients and investors on Tuesday. The firm set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 91.57% from the company’s current price.
Other analysts have also issued reports about the stock. Canaccord Genuity reaffirmed a “buy” rating on shares of Aspen Aerogels in a research note on Wednesday, June 22nd. Citigroup Inc. reduced their price objective on shares of Aspen Aerogels from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Zacks Investment Research raised shares of Aspen Aerogels from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Aspen Aerogels from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Aspen Aerogels currently has a consensus rating of “Hold” and a consensus target price of $7.70.
Aspen Aerogels (NYSE:ASPN) traded up 5.24% during midday trading on Tuesday, reaching $5.22. 54,137 shares of the company’s stock traded hands. The company’s 50-day moving average price is $4.88 and its 200 day moving average price is $4.59. Aspen Aerogels has a 52 week low of $3.38 and a 52 week high of $8.87. The stock’s market capitalization is $107.44 million.
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Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.02. Aspen Aerogels had a negative net margin of 3.14% and a negative return on equity of 3.35%. The company earned $27.70 million during the quarter, compared to analyst estimates of $30.99 million. During the same quarter last year, the firm posted ($0.12) EPS. On average, equities research analysts expect that Aspen Aerogels will post ($0.30) earnings per share for the current year.
In related news, Director Richard F. Reilly purchased 10,000 shares of Aspen Aerogels stock in a transaction dated Tuesday, August 23rd. The stock was acquired at an average cost of $4.82 per share, with a total value of $48,200.00. Following the completion of the transaction, the director now directly owns 36,178 shares of the company’s stock, valued at $174,377.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William P. Noglows purchased 20,000 shares of Aspen Aerogels stock in a transaction dated Wednesday, August 24th. The stock was bought at an average cost of $4.98 per share, with a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 46,178 shares of the company’s stock, valued at $229,966.44. The disclosure for this purchase can be found here. 14.70% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of ASPN. Goldman Sachs Group Inc. bought a new stake in Aspen Aerogels during the first quarter worth about $115,000. Balter Liquid Alternatives LLC increased its position in Aspen Aerogels by 162.8% in the first quarter. Balter Liquid Alternatives LLC now owns 33,236 shares of the company’s stock worth $150,000 after buying an additional 20,590 shares in the last quarter. Firsthand Capital Management Inc. increased its position in Aspen Aerogels by 16.7% in the second quarter. Firsthand Capital Management Inc. now owns 35,000 shares of the company’s stock worth $174,000 after buying an additional 5,000 shares in the last quarter. GSA Capital Partners LLP increased its position in Aspen Aerogels by 71.6% in the second quarter. GSA Capital Partners LLP now owns 44,129 shares of the company’s stock worth $219,000 after buying an additional 18,419 shares in the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new position in Aspen Aerogels during the first quarter worth approximately $221,000. 76.10% of the stock is owned by institutional investors and hedge funds.
About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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