Aspen Aerogels (NYSE:ASPN) Price Target Lowered to $5.00 at Canaccord Genuity Group

Aspen Aerogels (NYSE:ASPN) had its target price cut by equities research analysts at Canaccord Genuity Group from $10.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 30.04% from the stock’s previous close.

A number of other research firms have also weighed in on ASPN. Barclays reduced their target price on shares of Aspen Aerogels from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Aspen Aerogels in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Aspen Aerogels has an average rating of “Hold” and a consensus target price of $12.67.

Aspen Aerogels Price Performance

Shares of NYSE ASPN traded down $0.27 during mid-day trading on Friday, hitting $3.85. 9,043,582 shares of the stock traded hands, compared to its average volume of 2,054,373. The company has a market cap of $316.67 million, a PE ratio of -1.01 and a beta of 2.85. Aspen Aerogels has a twelve month low of $3.70 and a twelve month high of $17.56. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.98 and a quick ratio of 3.31. The firm has a 50 day simple moving average of $7.35 and a two-hundred day simple moving average of $6.77.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, November 6th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $73.02 million during the quarter, compared to the consensus estimate of $73.42 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. Aspen Aerogels’s revenue for the quarter was down 37.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Aspen Aerogels has set its FY 2025 guidance at -4.150–4.050 EPS. As a group, equities research analysts forecast that Aspen Aerogels will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Santhosh P. Daniel sold 4,410 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total value of $32,237.10. Following the completion of the sale, the chief accounting officer directly owned 19,879 shares of the company’s stock, valued at $145,315.49. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

Several large investors have recently made changes to their positions in the business. Gagnon Securities LLC purchased a new position in Aspen Aerogels in the second quarter valued at about $11,243,000. Federated Hermes Inc. purchased a new position in Aspen Aerogels in the second quarter valued at approximately $10,459,000. AWM Investment Company Inc. lifted its stake in Aspen Aerogels by 102.6% in the first quarter. AWM Investment Company Inc. now owns 2,449,221 shares of the construction company’s stock valued at $15,651,000 after purchasing an additional 1,240,535 shares during the last quarter. Invesco Ltd. grew its holdings in Aspen Aerogels by 1,045.5% during the second quarter. Invesco Ltd. now owns 831,991 shares of the construction company’s stock valued at $4,925,000 after purchasing an additional 759,360 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Aspen Aerogels by 2,036.3% in the 1st quarter. MetLife Investment Management LLC now owns 764,423 shares of the construction company’s stock worth $4,885,000 after buying an additional 728,641 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.