HC Wainwright Reaffirms Buy Rating for Aspen Aerogels (NYSE:ASPN)

HC Wainwright reaffirmed their buy rating on shares of Aspen Aerogels (NYSE:ASPN) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $30.00 target price on the construction company’s stock.

ASPN has been the subject of several other reports. TD Cowen increased their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Barclays initiated coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $36.00 price objective on shares of Aspen Aerogels in a report on Wednesday, August 21st. Finally, B. Riley upgraded shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

Aspen Aerogels Price Performance

NYSE ASPN opened at $21.60 on Wednesday. Aspen Aerogels has a 52 week low of $6.62 and a 52 week high of $33.15. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -49.08 and a beta of 2.16. The company has a 50-day moving average price of $26.00 and a two-hundred day moving average price of $24.35.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. Aspen Aerogels’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) EPS. Analysts forecast that Aspen Aerogels will post 0.21 EPS for the current year.

Insider Activity at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.03, for a total value of $1,902,550.65. Following the completion of the sale, the chief executive officer now owns 483,640 shares in the company, valued at approximately $14,523,709.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Donald R. Young sold 63,355 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC lifted its position in Aspen Aerogels by 45.0% in the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock worth $161,000 after buying an additional 1,800 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in Aspen Aerogels in the 3rd quarter worth approximately $222,000. Strategic Wealth Partners Ltd. lifted its position in Aspen Aerogels by 93.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 75,182 shares of the construction company’s stock worth $2,082,000 after buying an additional 36,278 shares in the last quarter. Quent Capital LLC purchased a new stake in Aspen Aerogels in the 3rd quarter worth approximately $118,000. Finally, SG Americas Securities LLC bought a new position in shares of Aspen Aerogels during the 3rd quarter valued at $379,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Company Profile

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.