Aspen Aerogels (NYSE:ASPN) Updates FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPNGet Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.030- for the period, compared to the consensus earnings per share estimate of 0.080. The company issued revenue guidance of $380.0 million-, compared to the consensus revenue estimate of $395.8 million.

Aspen Aerogels Stock Performance

NYSE:ASPN opened at $25.28 on Friday. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a 12-month low of $5.32 and a 12-month high of $31.74. The stock has a 50-day moving average price of $24.96 and a 200 day moving average price of $18.41. The stock has a market capitalization of $1.93 billion, a P/E ratio of -57.45 and a beta of 2.29.

Aspen Aerogels (NYSE:ASPNGet Free Report) last released its earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $73.04 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. Equities research analysts forecast that Aspen Aerogels will post 0.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on ASPN shares. Craig Hallum lifted their price objective on Aspen Aerogels from $33.00 to $38.00 and gave the stock a buy rating in a research note on Friday, June 14th. TD Cowen lifted their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock a buy rating in a research note on Wednesday, June 5th. Canaccord Genuity Group lifted their price objective on Aspen Aerogels from $18.00 to $28.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an overweight rating in a research note on Wednesday, May 29th. Finally, Roth Mkm reaffirmed a buy rating and issued a $36.00 price objective (up previously from $28.00) on shares of Aspen Aerogels in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $30.75.

View Our Latest Stock Analysis on ASPN

Insiders Place Their Bets

In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.01, for a total value of $1,379,526.59. Following the completion of the sale, the senior vice president now directly owns 131,533 shares in the company, valued at approximately $3,289,640.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Keith L. Schilling sold 20,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.84, for a total value of $536,800.00. Following the completion of the transaction, the senior vice president now directly owns 28,792 shares of the company’s stock, valued at approximately $772,777.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.01, for a total value of $1,379,526.59. Following the completion of the transaction, the senior vice president now directly owns 131,533 shares of the company’s stock, valued at $3,289,640.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,832,103 shares of company stock worth $91,679,369. 4.30% of the stock is currently owned by company insiders.

Aspen Aerogels Company Profile

(Get Free Report)

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.

Further Reading

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

Receive News & Ratings for Aspen Aerogels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Aerogels and related companies with MarketBeat.com's FREE daily email newsletter.