Aspen Aerogels (NYSE:ASPN) Releases FY24 Earnings Guidance

by · The Markets Daily

Aspen Aerogels (NYSE:ASPN – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.11 for the period, compared to the consensus EPS estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Aspen Aerogels Stock Down 9.0 %

Shares of ASPN stock traded down $1.66 during trading on Wednesday, hitting $16.85. 6,756,825 shares of the company were exchanged, compared to its average volume of 1,531,669. The business’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $24.71. Aspen Aerogels has a twelve month low of $8.76 and a twelve month high of $33.15. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -1,851.00 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46.

Aspen Aerogels (NYSE:ASPN – Get Free Report) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter last year, the business posted ($0.22) EPS. The company’s revenue for the quarter was up 144.4% on a year-over-year basis. As a group, analysts forecast that Aspen Aerogels will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ASPN shares. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Piper Sandler cut their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Barclays assumed coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price target on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. 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 MarketBeat, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Check Out Our Latest Stock Report on ASPN

Insider Transactions at Aspen Aerogels

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

About Aspen Aerogels

(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.

Read More