Probity Advisors Inc. Acquires New Stake in Aspen Aerogels, Inc. $ASPN

Probity Advisors Inc. acquired a new stake in shares of Aspen Aerogels, Inc. (NYSE:ASPN) in the second quarter, HoldingsChannel reports. The firm acquired 10,665 shares of the construction company’s stock, valued at approximately $63,000.

Several other hedge funds have also made changes to their positions in the company. Gagnon Securities LLC purchased a new stake in shares of Aspen Aerogels in the 2nd quarter worth $11,243,000. Gagnon Advisors LLC purchased a new stake in shares of Aspen Aerogels in the 2nd quarter worth $3,348,000. Perigon Wealth Management LLC lifted its holdings in shares of Aspen Aerogels by 12.7% in the 2nd quarter. Perigon Wealth Management LLC now owns 37,866 shares of the construction company’s stock worth $224,000 after buying an additional 4,270 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Aspen Aerogels by 89.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,274,356 shares of the construction company’s stock worth $8,143,000 after buying an additional 602,586 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Aspen Aerogels in the 1st quarter worth $43,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on ASPN. Barclays cut Aspen Aerogels from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $7.00 to $16.00 in a report on Monday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Aspen Aerogels in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group lowered their target price on Aspen Aerogels from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Aspen Aerogels currently has an average rating of “Hold” and an average target price of $15.50.

Aspen Aerogels Trading Down 4.7%

ASPN opened at $7.92 on Wednesday. The firm has a market cap of $651.96 million, a price-to-earnings ratio of -2.08 and a beta of 2.80. The company has a current ratio of 3.98, a quick ratio of 3.31 and a debt-to-equity ratio of 0.34. Aspen Aerogels, Inc. has a 12 month low of $4.16 and a 12 month high of $21.00. The stock has a fifty day moving average price of $7.23 and a 200-day moving average price of $6.57.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.08. The firm had revenue of $78.02 million during the quarter, compared to analyst estimates of $72.53 million. Aspen Aerogels had a positive return on equity of 2.92% and a negative net margin of 78.53%.The business’s revenue for the quarter was down 33.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. Aspen Aerogels has set its FY 2025 guidance at -3.860–3.730 EPS. As a group, equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Aspen Aerogels

In other news, CAO Santhosh P. Daniel sold 4,410 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total value of $32,237.10. Following the completion of the transaction, the chief accounting officer directly owned 19,879 shares of the company’s stock, valued at approximately $145,315.49. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.40% of the company’s stock.

Aspen Aerogels 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.