Aspen Aerogels (NYSE:ASPN) Price Target Raised to $29.00

Aspen Aerogels (NYSE:ASPN) had its price target hoisted by Piper Sandler from $20.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other brokerages have also issued reports on ASPN. HC Wainwright lifted their price target on Aspen Aerogels from $20.00 to $25.00 and gave the company a buy rating in a research note on Friday. TheStreet upgraded Aspen Aerogels from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Finally, Roth Mkm reissued a buy rating and issued a $22.00 target price on shares of Aspen Aerogels in a report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of Moderate Buy and an average target price of $25.17.

Aspen Aerogels Trading Up 5.3 %

ASPN opened at $25.11 on Friday. The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a twelve month low of $5.32 and a twelve month high of $25.65. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -57.07 and a beta of 1.97. The company has a 50-day simple moving average of $16.72 and a 200 day simple moving average of $13.77.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Tuesday, February 13th. The construction company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $84.22 million during the quarter, compared to the consensus estimate of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. During the same quarter in the prior year, the firm posted ($0.20) EPS. Analysts predict that Aspen Aerogels will post 0.03 EPS for the current fiscal year.

Institutional Trading of Aspen Aerogels

A number of hedge funds have recently made changes to their positions in ASPN. Vanguard Group Inc. boosted its position in Aspen Aerogels by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,445,887 shares of the construction company’s stock worth $29,635,000 after buying an additional 14,013 shares during the period. AIGH Capital Management LLC raised its stake in shares of Aspen Aerogels by 3.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after acquiring an additional 52,462 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after purchasing an additional 404,042 shares during the period. UniSuper Management Pty Ltd grew its stake in shares of Aspen Aerogels by 13.5% in the third quarter. UniSuper Management Pty Ltd now owns 1,083,836 shares of the construction company’s stock worth $9,321,000 after purchasing an additional 128,974 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new position in Aspen Aerogels during the 4th quarter worth $12,015,000. 97.64% of the stock is owned by institutional investors and hedge funds.

About Aspen Aerogels

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.