Oppenheimer & Co. Inc. Buys 64,154 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Oppenheimer & Co. Inc. lifted its position in shares of Aspen Aerogels, Inc. (NYSE:ASPN) by 167.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,535 shares of the construction company’s stock after acquiring an additional 64,154 shares during the quarter. Oppenheimer & Co. Inc. owned approximately 0.13% of Aspen Aerogels worth $2,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dakota Wealth Management bought a new position in shares of Aspen Aerogels during the third quarter valued at $986,000. Rice Hall James & Associates LLC lifted its holdings in Aspen Aerogels by 19.9% during the 3rd quarter. Rice Hall James & Associates LLC now owns 535,113 shares of the construction company’s stock worth $14,817,000 after buying an additional 88,711 shares during the period. Comerica Bank acquired a new position in Aspen Aerogels during the 1st quarter worth about $1,992,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Aspen Aerogels by 66.7% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock valued at $1,922,000 after buying an additional 32,243 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Aspen Aerogels by 5.1% during the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after acquiring an additional 175,906 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock opened at $14.28 on Friday. The business has a 50-day simple moving average of $22.04 and a 200 day simple moving average of $24.59. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 1,429.43 and a beta of 2.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.82. Aspen Aerogels, Inc. has a one year low of $9.89 and a one year high of $33.15.

Analyst Ratings Changes

A number of research firms have weighed in on ASPN. Barclays decreased their target price on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Roth Mkm decreased their price objective on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Piper Sandler dropped their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Aspen Aerogels in a report on Wednesday, October 16th. Finally, TD Cowen boosted their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.70.

Insider Activity

In other news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction dated 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 $14,523,709.20. This represents a 11.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at $626,610.60. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% 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.