$25.50 Million in Sales Expected for Aspen Aerogels, Inc. (NYSE:ASPN) This Quarter
Equities research analysts expect Aspen Aerogels, Inc. (NYSE:ASPN) to announce sales of $25.50 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Aspen Aerogels’ earnings, with the lowest sales estimate coming in at $24.50 million and the highest estimate coming in at $26.49 million. Aspen Aerogels reported sales of $27.72 million during the same quarter last year, which indicates a negative year over year growth rate of 8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Aspen Aerogels will report full year sales of $25.50 million for the current year, with estimates ranging from $105.20 million to $107.50 million. For the next year, analysts forecast that the firm will post sales of $128.67 million per share, with estimates ranging from $120.30 million to $137.04 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Aspen Aerogels.
Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Thursday, May 4th. The construction company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.10. Aspen Aerogels had a negative net margin of 17.89% and a negative return on equity of 16.60%. The firm had revenue of $23 million during the quarter, compared to analyst estimates of $22.30 million. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was down 29.9% compared to the same quarter last year.
A number of research firms recently weighed in on ASPN. Citigroup Inc. upped their target price on shares of Aspen Aerogels from $4.50 to $4.75 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Zacks Investment Research upgraded shares of Aspen Aerogels from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $7.25.
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Aspen Aerogels (ASPN) traded down 2.19% during mid-day trading on Friday, hitting $4.47. The company’s stock had a trading volume of 44,254 shares. The firm’s market cap is $92.00 million. The firm has a 50 day moving average of $4.32 and a 200-day moving average of $4.23. Aspen Aerogels has a 52-week low of $3.61 and a 52-week high of $6.71.
In other Aspen Aerogels news, Director Robert M. Gervis acquired 23,916 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The stock was bought at an average cost of $3.99 per share, with a total value of $95,424.84. Following the acquisition, the director now owns 66,806 shares in the company, valued at $266,555.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert M. Gervis acquired 19,500 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was acquired at an average cost of $3.99 per share, with a total value of $77,805.00. Following the completion of the acquisition, the director now owns 79,717 shares in the company, valued at approximately $318,070.83. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 71,163 shares of company stock valued at $284,218. Company insiders own 14.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management increased its position in Aspen Aerogels by 27.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 71,412 shares of the construction company’s stock valued at $296,000 after buying an additional 15,315 shares during the period. Tocqueville Asset Management L.P. increased its position in Aspen Aerogels by 1.2% in the first quarter. Tocqueville Asset Management L.P. now owns 846,655 shares of the construction company’s stock valued at $3,514,000 after buying an additional 10,000 shares during the period. Heartland Advisors Inc. increased its position in Aspen Aerogels by 8.2% in the first quarter. Heartland Advisors Inc. now owns 920,000 shares of the construction company’s stock valued at $3,818,000 after buying an additional 70,000 shares during the period. Ameriprise Financial Inc. increased its position in Aspen Aerogels by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 1,002,566 shares of the construction company’s stock valued at $4,161,000 after buying an additional 118,491 shares during the period. Finally, Spark Investment Management LLC increased its position in Aspen Aerogels by 186.0% in the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock valued at $126,000 after buying an additional 19,900 shares during the period. 74.70% of the stock is owned by institutional investors.
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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