Driehaus Capital Management LLC Sells 321,051 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Driehaus Capital Management LLC cut its holdings in Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,029,519 shares of the construction company’s stock after selling 321,051 shares during the period. Driehaus Capital Management LLC owned 2.55% of Aspen Aerogels worth $10,172,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors increased its stake in shares of Aspen Aerogels by 451.1% in the first quarter. Captrust Financial Advisors now owns 722 shares of the construction company’s stock worth $25,000 after purchasing an additional 591 shares during the period. First PREMIER Bank increased its stake in shares of Aspen Aerogels by 50.0% in the second quarter. First PREMIER Bank now owns 3,000 shares of the construction company’s stock worth $30,000 after purchasing an additional 1,000 shares during the period. Quent Capital LLC increased its stake in shares of Aspen Aerogels by 100.0% in the second quarter. Quent Capital LLC now owns 6,000 shares of the construction company’s stock worth $59,000 after purchasing an additional 3,000 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Aspen Aerogels by 204.0% in the second quarter. BNP Paribas Arbitrage SA now owns 6,068 shares of the construction company’s stock worth $60,000 after purchasing an additional 4,072 shares during the period. Finally, Point72 Hong Kong Ltd increased its stake in shares of Aspen Aerogels by 94,733.3% in the second quarter. Point72 Hong Kong Ltd now owns 8,535 shares of the construction company’s stock worth $84,000 after purchasing an additional 8,526 shares during the period. 91.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ASPN has been the topic of a number of recent analyst reports. Benchmark dropped their price objective on Aspen Aerogels to $22.00 in a research note on Tuesday, November 1st. Piper Sandler lowered their price target on Aspen Aerogels to $33.00 in a research note on Tuesday, November 1st. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price target on shares of Aspen Aerogels in a research note on Friday, October 21st. Oppenheimer lowered their price target on Aspen Aerogels to $23.00 in a research note on Tuesday, November 1st. Finally, Cowen lowered their price target on Aspen Aerogels from $35.00 to $28.00 in a research note on Friday, October 28th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aspen Aerogels currently has a consensus rating of “Buy” and an average price target of $29.70.

Aspen Aerogels Stock Up 9.3 %

NYSE ASPN opened at $12.06 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.68 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $11.41 and its two-hundred day moving average is $12.70. The company has a market capitalization of $493.36 million, a price-to-earnings ratio of -4.79 and a beta of 2.29. Aspen Aerogels, Inc. has a 1-year low of $7.93 and a 1-year high of $58.04.

Insider Buying and Selling at Aspen Aerogels

In related news, major shareholder Wood River Capital, Llc acquired 10,526,316 shares of the firm’s stock in a transaction on Wednesday, November 30th. The shares were bought at an average cost of $9.50 per share, with a total value of $100,000,002.00. Following the completion of the acquisition, the insider now owns 15,780,426 shares of the company’s stock, valued at $149,914,047. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Aspen Aerogels news, major shareholder Wood River Capital, Llc bought 10,526,316 shares of Aspen Aerogels stock in a transaction dated Wednesday, November 30th. The shares were acquired at an average cost of $9.50 per share, with a total value of $100,000,002.00. Following the acquisition, the insider now directly owns 15,780,426 shares of the company’s stock, valued at $149,914,047. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James E. Sweetnam bought 2,700 shares of Aspen Aerogels stock in a transaction dated Tuesday, December 6th. The stock was acquired at an average cost of $11.30 per share, for a total transaction of $30,510.00. Following the completion of the acquisition, the director now directly owns 6,195 shares in the company, valued at $70,003.50. The disclosure for this purchase can be found here. Company insiders own 9.50% of the company’s stock.

Aspen Aerogels Profile

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Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide 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.

Further Reading

Institutional Ownership by Quarter for Aspen Aerogels (NYSE:ASPN)

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