Aspen Aerogels (NYSE:ASPN) Updates FY 2022 Earnings Guidance

Aspen Aerogels (NYSE:ASPNGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of -$1.99–$1.88 for the period, compared to the consensus earnings per share estimate of -$1.91. The company issued revenue guidance of $145.00 million-$155.00 million, compared to the consensus revenue estimate of $151.64 million.

Shares of ASPN stock traded down $0.35 during trading on Thursday, reaching $14.46. 93,446 shares of the company’s stock were exchanged, compared to its average volume of 381,965. The stock has a market capitalization of $521.73 million, a PE ratio of -9.49 and a beta of 1.96. Aspen Aerogels has a twelve month low of $14.71 and a twelve month high of $65.99. The firm’s fifty day moving average price is $27.87 and its 200-day moving average price is $38.58.

Aspen Aerogels (NYSE:ASPNGet Rating) last posted its earnings results on Wednesday, April 27th. The construction company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Aspen Aerogels had a negative return on equity of 38.80% and a negative net margin of 38.15%. During the same period last year, the business earned ($0.22) EPS. Sell-side analysts anticipate that Aspen Aerogels will post -1.97 EPS for the current fiscal year.

A number of research analysts have commented on ASPN shares. Zacks Investment Research lowered Aspen Aerogels from a buy rating to a hold rating in a report on Wednesday, May 4th. Benchmark decreased their price objective on Aspen Aerogels from $70.00 to $60.00 in a report on Friday, February 18th. Piper Sandler cut their target price on Aspen Aerogels from $72.00 to $68.00 and set an overweight rating for the company in a research report on Friday, February 18th. B. Riley cut their target price on Aspen Aerogels from $59.00 to $44.00 in a research report on Friday, April 29th. Finally, Canaccord Genuity Group cut their target price on Aspen Aerogels from $47.00 to $32.00 and set a buy rating for the company in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $48.55.

In other news, major shareholder Koch Industries Inc bought 1,791,986 shares of the company’s stock in a transaction on Monday, March 28th. The stock was purchased at an average cost of $27.90 per share, for a total transaction of $49,996,409.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert M. Gervis bought 135,870 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was purchased at an average price of $33.12 per share, with a total value of $4,500,014.40. The disclosure for this purchase can be found here. 13.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of ASPN. Advisor Group Holdings Inc. increased its stake in shares of Aspen Aerogels by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 2,539 shares of the construction company’s stock valued at $87,000 after buying an additional 692 shares during the period. Marshall Wace LLP acquired a new stake in shares of Aspen Aerogels in the fourth quarter valued at about $141,000. BNP Paribas Arbitrage SA increased its stake in shares of Aspen Aerogels by 457.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,734 shares of the construction company’s stock valued at $172,000 after buying an additional 3,064 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Aspen Aerogels in the third quarter valued at about $216,000. Finally, MetLife Investment Management LLC increased its stake in shares of Aspen Aerogels by 56.5% in the first quarter. MetLife Investment Management LLC now owns 11,713 shares of the construction company’s stock valued at $404,000 after buying an additional 4,230 shares during the period. Hedge funds and other institutional investors own 99.90% of the company’s stock.

Aspen Aerogels Company Profile (Get Rating)

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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Earnings History and Estimates for Aspen Aerogels (NYSE:ASPN)

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