Zacks Investment Research upgraded shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a hold rating to a buy rating in a research report sent to investors on Thursday. Zacks Investment Research currently has $5.50 price target on the construction company’s stock.
According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “
Separately, ValuEngine cut shares of Aspen Aerogels from a sell rating to a strong sell rating in a report on Friday, July 28th.
Shares of Aspen Aerogels (NYSE ASPN) traded down $0.02 during trading on Thursday, reaching $4.87. 21,255 shares of the company’s stock were exchanged, compared to its average volume of 45,718. Aspen Aerogels has a 12 month low of $3.63 and a 12 month high of $4.97.
Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Thursday, November 2nd. The construction company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. Aspen Aerogels had a negative net margin of 22.72% and a negative return on equity of 21.86%. The company had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $28.23 million. During the same period last year, the company posted ($0.13) earnings per share. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. equities research analysts anticipate that Aspen Aerogels will post -0.88 EPS for the current year.
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Institutional investors and hedge funds have recently modified their holdings of the company. Mesirow Financial Investment Management Inc. purchased a new position in shares of Aspen Aerogels during the 2nd quarter worth approximately $330,000. Essex Investment Management Co. LLC purchased a new position in shares of Aspen Aerogels during the 3rd quarter worth approximately $823,000. Quantum Capital Management increased its stake in shares of Aspen Aerogels by 1,552.9% during the 3rd quarter. Quantum Capital Management now owns 223,966 shares of the construction company’s stock worth $974,000 after purchasing an additional 210,416 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Aspen Aerogels by 12.5% during the 1st quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock worth $1,089,000 after purchasing an additional 29,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Aspen Aerogels by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 582,689 shares of the construction company’s stock worth $2,592,000 after purchasing an additional 3,158 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
Aspen Aerogels Company Profile
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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