Aspen Aerogels (NYSE:ASPN) Announces Earnings Results

Aspen Aerogels (NYSE:ASPN) released its earnings results on Thursday. The construction company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01, Zacks reports. Aspen Aerogels had a negative net margin of 48.64% and a negative return on equity of 22.16%. Aspen Aerogels updated its Q3 2026 guidance to -0.110–0.070 EPS.

Here are the key takeaways from Aspen Aerogels’ conference call:

• Q3 outlook improved significantly, with revenue expected at $65 million–$80 million and adjusted EBITDA of $7 million–$15 million, supported by stronger energy industrial deliveries and higher thermal-barrier demand.
• Energy Industrial remains on track for approximately 20% growth in 2026, driven by LNG and subsea projects; management expects additional growth in 2027 and is targeting a $200 million, high-margin business without significant incremental capital investment.
• European PyroThin momentum accelerated, including a new Jaguar Land Rover design award. Aspen raised its 2026 European thermal-barrier revenue outlook to $20 million–$30 million from $10 million–$15 million and is targeting $40 million–$60 million in 2027.
• Aspen has begun a staged restart of its East Providence facility and expects full production capacity to return in the first half of 2027. Insurance is expected to recover a significant portion of incident-related costs, but expedited freight, external manufacturing, professional fees, and restoration spending will continue to pressure results and cash flow.
• Battery energy storage systems are being developed as a third growth segment, with customer qualification programs and commercial discussions underway. Management expects initial revenue in the near term but is not assuming meaningful BESS revenue in 2026.

Aspen Aerogels Trading Up 36.6%

ASPN stock traded up $1.83 during mid-day trading on Thursday, hitting $6.84. 14,384,412 shares of the company were exchanged, compared to its average volume of 934,147. The company has a quick ratio of 2.54, a current ratio of 2.89 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $567.23 million, a P/E ratio of -5.03 and a beta of 2.99. The business has a fifty day simple moving average of $5.51 and a 200-day simple moving average of $4.41. Aspen Aerogels has a 12-month low of $2.30 and a 12-month high of $9.78.

Hedge Funds Weigh In On Aspen Aerogels

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in Aspen Aerogels by 84.7% during the 1st quarter. Royal Bank of Canada now owns 56,419 shares of the construction company’s stock worth $360,000 after acquiring an additional 25,880 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Aspen Aerogels during the first quarter worth about $960,000. Integrated Wealth Concepts LLC purchased a new position in shares of Aspen Aerogels in the first quarter valued at approximately $84,000. Goldman Sachs Group Inc. grew its holdings in shares of Aspen Aerogels by 89.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,274,356 shares of the construction company’s stock valued at $8,143,000 after purchasing an additional 602,586 shares in the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Aspen Aerogels in the first quarter valued at approximately $307,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ASPN shares. Roth Capital reiterated a “buy” rating and set a $5.75 price objective on shares of Aspen Aerogels in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Aspen Aerogels in a report on Wednesday, June 24th. Barclays lifted their price target on Aspen Aerogels from $3.00 to $4.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Finally, Wall Street Zen raised shares of Aspen Aerogels from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Aspen Aerogels presently has a consensus rating of “Hold” and a consensus price target of $5.19.

About Aspen Aerogels

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.