Piper Sandler Trims Aspen Aerogels (NYSE:ASPN) Target Price to $33.00

by · The Markets Daily

Aspen Aerogels (NYSE:ASPN – Get Free Report) had its price target decreased by equities researchers at Piper Sandler from $36.00 to $33.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. Piper Sandler’s price objective indicates a potential upside of 61.76% from the company’s current price.

Several other equities analysts have also commented on the stock. B. Riley upgraded shares of Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. TD Cowen lifted their price target on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Finally, Barclays initiated coverage on Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average target price of $29.40.

Get Our Latest Stock Report on ASPN

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock traded down $0.93 during trading hours on Tuesday, reaching $20.40. The company’s stock had a trading volume of 2,066,246 shares, compared to its average volume of 1,445,868. Aspen Aerogels has a one year low of $6.62 and a one year high of $33.15. The company’s 50 day simple moving average is $25.96 and its 200 day simple moving average is $24.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The stock has a market cap of $1.55 billion, a P/E ratio of -46.36 and a beta of 2.16.

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

Insiders Place Their Bets

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction 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 transaction, 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 SEC, which can be accessed through this link. In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. This trade represents a 0.00 % 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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its holdings in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,252 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Aspen Aerogels in the second quarter valued at about $84,000. nVerses Capital LLC bought a new stake in Aspen Aerogels during the second quarter worth about $95,000. Quent Capital LLC acquired a new stake in shares of Aspen Aerogels during the third quarter worth approximately $118,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Aspen Aerogels during the second quarter worth approximately $121,000. 97.64% of the stock is owned by institutional investors.

Aspen Aerogels Company Profile

(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.

See Also