Aspen Aerogels (NYSE:ASPN) Shares Down 7%

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) were down 7% 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 Analyst Weigh In

Several research analysts have recently weighed in on ASPN shares. Canaccord Genuity Group lifted their price objective on Aspen Aerogels from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Canaccord Genuity Group lifted their price objective on Aspen Aerogels from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th. Roth Mkm assumed coverage on Aspen Aerogels in a research report on Wednesday, March 6th. They issued a “buy” rating and a $22.00 target price for the company. TheStreet raised Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Aspen Aerogels in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Aspen Aerogels Price Performance

The firm has a market capitalization of $1.21 billion, a P/E ratio of -23.36 and a beta of 2.04. The business has a 50-day moving average of $16.56 and a 200 day moving average of $13.24. The company has a current ratio of 3.41, a quick ratio of 2.91 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Tuesday, February 13th. The construction company reported ($0.01) earnings per share (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 previous year, the business earned ($0.20) EPS. On average, sell-side analysts predict that Aspen Aerogels, Inc. will post -0.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aspen Aerogels

A number of hedge funds have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise boosted its stake in shares of Aspen Aerogels by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after buying an additional 1,252 shares during the last quarter. McAdam LLC purchased a new position in shares of Aspen Aerogels in the 4th quarter worth approximately $191,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Aspen Aerogels by 71.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,052 shares of the construction company’s stock worth $198,000 after buying an additional 9,601 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Aspen Aerogels by 38.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after buying an additional 3,607 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Aspen Aerogels in the 4th quarter worth approximately $230,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

About Aspen Aerogels

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.