Aspen Aerogels (NYSE:ASPN) Shares Up 5.7%

Aspen Aerogels Inc (NYSE:ASPN)’s stock price shot up 5.7% during trading on Thursday . The company traded as high as $14.63 and last traded at $11.57. 3,730,872 shares were traded during mid-day trading, an increase of 2,357% from the average session volume of 151,841 shares. The stock had previously closed at $10.95.

A number of brokerages recently commented on ASPN. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Aspen Aerogels in a research report on Friday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $10.00 target price on shares of Aspen Aerogels in a report on Friday, July 31st. Zacks Investment Research cut shares of Aspen Aerogels from a “hold” rating to a “sell” rating in a report on Wednesday, August 5th. Finally, Northland Securities began coverage on shares of Aspen Aerogels in a report on Wednesday, September 9th. They issued an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. Aspen Aerogels presently has a consensus rating of “Buy” and an average target price of $10.18.

The company has a current ratio of 3.26, a quick ratio of 2.55 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $9.08 and its two-hundred day moving average price is $6.98. The firm has a market capitalization of $310.60 million, a PE ratio of -23.30 and a beta of 1.86.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Thursday, July 30th. The construction company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $24.64 million during the quarter, compared to analysts’ expectations of $22.60 million. Aspen Aerogels had a negative return on equity of 19.00% and a negative net margin of 8.97%. Analysts expect that Aspen Aerogels Inc will post -0.63 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in Aspen Aerogels by 1,296.6% in the 2nd quarter. UBS Group AG now owns 6,983 shares of the construction company’s stock worth $46,000 after buying an additional 6,483 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Aspen Aerogels by 141.7% during the 1st quarter. Acadian Asset Management LLC now owns 11,122 shares of the construction company’s stock worth $68,000 after purchasing an additional 6,521 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Aspen Aerogels during the 2nd quarter worth about $78,000. American International Group Inc. acquired a new stake in Aspen Aerogels in the 2nd quarter valued at about $82,000. Finally, State of Tennessee Treasury Department acquired a new stake in Aspen Aerogels in the 1st quarter valued at about $78,000. 71.23% of the stock is owned by hedge funds and other institutional investors.

Aspen Aerogels Company Profile (NYSE:ASPN)

Aspen Aerogels, Inc, an aerogel technology company, designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets worldwide. The company provides Pyrogel XT-E that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market with operating temperatures greater than 400 C; Pyrogel XTF to provide strong protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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