Aspen Aerogels Inc (NYSE:ASPN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, May 9th.
According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “
Separately, Needham & Company LLC lowered their target price on shares of Aspen Aerogels from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Aspen Aerogels currently has a consensus rating of “Hold” and a consensus target price of $7.25.
Aspen Aerogels (NYSE:ASPN) traded up 0.23% during mid-day trading on Tuesday, reaching $4.30. 44,139 shares of the company’s stock traded hands. Aspen Aerogels has a 12-month low of $3.61 and a 12-month high of $6.71. The stock has a 50 day moving average of $4.23 and a 200 day moving average of $4.20. The company’s market cap is $88.50 million.
Aspen Aerogels (NYSE:ASPN) last released its earnings results on Thursday, May 4th. The construction company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.10. Aspen Aerogels had a negative return on equity of 3.82% and a negative net margin of 3.64%. The company had revenue of $23 million during the quarter, compared to analysts’ expectations of $22.30 million. During the same period last year, the firm posted ($0.08) EPS. Aspen Aerogels’s quarterly revenue was down 29.9% compared to the same quarter last year. On average, equities research analysts predict that Aspen Aerogels will post ($0.88) earnings per share for the current fiscal year.
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In other Aspen Aerogels news, Director Robert M. Gervis purchased 18,201 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were bought at an average price of $4.00 per share, with a total value of $72,804.00. Following the completion of the purchase, the director now directly owns 87,671 shares in the company, valued at $350,684. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Gervis purchased 7,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were acquired at an average cost of $3.97 per share, for a total transaction of $28,187.00. Following the purchase, the director now owns 49,774 shares of the company’s stock, valued at $197,602.78. The disclosure for this purchase can be found here. Insiders bought 104,491 shares of company stock worth $416,803 in the last three months. Insiders own 14.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. RBF Capital LLC increased its stake in Aspen Aerogels by 14.2% in the third quarter. RBF Capital LLC now owns 41,111 shares of the construction company’s stock worth $245,000 after buying an additional 5,100 shares during the last quarter. Tocqueville Asset Management L.P. increased its stake in Aspen Aerogels by 6.0% in the third quarter. Tocqueville Asset Management L.P. now owns 696,680 shares of the construction company’s stock worth $4,152,000 after buying an additional 39,600 shares during the last quarter. Heartland Advisors Inc. increased its stake in Aspen Aerogels by 8.2% in the first quarter. Heartland Advisors Inc. now owns 920,000 shares of the construction company’s stock worth $3,818,000 after buying an additional 70,000 shares during the last quarter. Royce & Associates LP increased its stake in Aspen Aerogels by 49.7% in the fourth quarter. Royce & Associates LP now owns 296,527 shares of the construction company’s stock worth $1,225,000 after buying an additional 98,459 shares during the last quarter. Finally, Perritt Capital Management Inc. acquired a new stake in Aspen Aerogels during the fourth quarter worth about $521,000. 74.48% of the stock is currently owned by institutional investors.
About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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