Piper Sandler Increases Aspen Aerogels (NYSE:ASPN) Price Target to $29.00

Aspen Aerogels (NYSE:ASPN) had its price target upped by equities research analysts at Piper Sandler from $20.00 to $29.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Piper Sandler’s price objective would suggest a potential upside of 15.49% from the stock’s current price.

A number of other research analysts have also recently issued reports on ASPN. HC Wainwright raised their price target on shares of Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday. TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $22.00 target price on shares of Aspen Aerogels in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Aspen Aerogels Price Performance

Shares of ASPN opened at $25.11 on Friday. The company has a 50 day moving average of $16.72 and a two-hundred day moving average of $13.73. The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a twelve month low of $5.32 and a twelve month high of $25.65. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -57.07 and a beta of 1.97.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data 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. Aspen Aerogels had a negative return on equity of 6.54% and a negative net margin of 10.73%. The firm had revenue of $84.22 million during the quarter, compared to analysts’ expectations of $83.82 million. During the same quarter last year, the firm earned ($0.20) EPS. As a group, analysts predict that Aspen Aerogels will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Aerogels

A number of institutional investors have recently bought and sold shares of ASPN. Banque Cantonale Vaudoise raised its position in Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after buying an additional 1,252 shares during the last quarter. McAdam LLC acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $191,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Aspen Aerogels by 71.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,052 shares of the construction company’s stock worth $198,000 after purchasing an additional 9,601 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Aspen Aerogels by 38.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after purchasing an additional 3,607 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $230,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.