Aspen Aerogels (NYSE:ASPN) Sees Large Volume Increase on Analyst Upgrade

Aspen Aerogels, Inc. (NYSE:ASPN) saw an uptick in 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 traded hands during 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.

Other analysts also recently issued reports about the company. B. Riley lifted their price objective on Aspen Aerogels from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler upped their target price on Aspen Aerogels from $20.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday. TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. HC Wainwright upped their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Roth Mkm reiterated a “buy” rating and issued a $22.00 target price on shares of Aspen Aerogels in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Institutional Trading of Aspen Aerogels

Several hedge funds have recently added to or reduced their stakes in the company. AIGH Capital Management LLC purchased a new position in shares of Aspen Aerogels in the 3rd quarter valued at $15,067,000. Mesirow Institutional Investment Management Inc. acquired a new position in Aspen Aerogels during the fourth quarter worth approximately $12,015,000. Rice Hall James & Associates LLC boosted its holdings in shares of Aspen Aerogels by 385.0% in the third quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock valued at $5,359,000 after acquiring an additional 494,662 shares during the period. Worth Venture Partners LLC acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $3,684,000. Finally, Federated Hermes Inc. boosted its stake in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after buying an additional 404,042 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Aspen Aerogels Stock Performance

The stock has a fifty day moving average of $16.72 and a 200-day moving average of $13.69. 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 stock has a market cap of $1.93 billion, a PE ratio of -57.09 and a beta of 1.97.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.11. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. The business had revenue of $84.22 million for the quarter, compared to analyst estimates of $83.82 million. During the same period in the previous year, the firm earned ($0.20) EPS. On average, equities analysts forecast that Aspen Aerogels, Inc. will post -0.24 EPS 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.