Aspen Aerogels (NYSE:ASPN) Trading Up 5.2% – Here’s Why

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) rose 5.2% during trading on Tuesday . The stock traded as high as $12.71 and last traded at $12.62. Approximately 1,042,216 shares were traded during trading, a decline of 29% from the average daily volume of 1,469,794 shares. The stock had previously closed at $12.00.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Canaccord Genuity Group cut their price target on Aspen Aerogels from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Roth Mkm dropped their target price on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Piper Sandler decreased their price target on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a research report on Saturday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Aspen Aerogels has an average rating of “Moderate Buy” and a consensus price target of $29.11.

Aspen Aerogels Stock Performance

The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.00 billion, a P/E ratio of 1,221.12 and a beta of 2.14. The stock has a fifty day simple moving average of $12.44 and a 200-day simple moving average of $18.74.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors and hedge funds have recently made changes to their positions in ASPN. Vanguard Group Inc. lifted its stake in Aspen Aerogels by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 4,360,246 shares of the construction company’s stock valued at $51,800,000 after buying an additional 226,251 shares in the last quarter. FMR LLC raised its holdings in shares of Aspen Aerogels by 23.6% during the third quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after acquiring an additional 773,647 shares during the period. Telemark Asset Management LLC lifted its position in Aspen Aerogels by 26.8% in the 4th quarter. Telemark Asset Management LLC now owns 1,892,424 shares of the construction company’s stock valued at $22,482,000 after acquiring an additional 400,000 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in Aspen Aerogels by 22.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,619,320 shares of the construction company’s stock worth $44,839,000 after purchasing an additional 300,076 shares during the period. Finally, State Street Corp increased its holdings in Aspen Aerogels by 0.6% during the 3rd quarter. State Street Corp now owns 1,410,543 shares of the construction company’s stock worth $39,058,000 after purchasing an additional 8,344 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.