Aspen Aerogels (NYSE:ASPN) Shares Down 7%

Aspen Aerogels, Inc. (NYSE:ASPN) was down 7% during trading on Thursday . The stock traded as low as $15.37 and last traded at $15.47. Approximately 210,794 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 954,197 shares. The stock had previously closed at $16.64.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ASPN shares. TheStreet raised Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Aspen Aerogels in a research note on Wednesday, February 14th. Finally, Roth Mkm assumed coverage on Aspen Aerogels in a research note on Wednesday, March 6th. They issued a “buy” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, Aspen Aerogels has an average rating of “Moderate Buy” and an average target price of $19.00.

Aspen Aerogels Trading Up 2.5 %

The firm has a 50 day moving average price of $16.49 and a 200-day moving average price of $13.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.91 and a current ratio of 3.41.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $84.22 million during the quarter, compared to the consensus estimate of $83.82 million. Aspen Aerogels had a negative return on equity of 10.47% and a negative net margin of 19.19%. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Research analysts anticipate that Aspen Aerogels, Inc. will post -0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position 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. Rice Hall James & Associates LLC boosted its position in Aspen Aerogels by 385.0% during 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 purchasing an additional 494,662 shares during the last quarter. Vanguard Group Inc. boosted its position in Aspen Aerogels by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,445,887 shares of the construction company’s stock valued at $29,635,000 after purchasing an additional 14,013 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Aspen Aerogels during the third quarter valued at approximately $449,000. Finally, Maven Securities LTD acquired a new position in Aspen Aerogels during the third quarter valued at approximately $860,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Aspen Aerogels Company Profile

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.