Aspen Aerogels (NYSE:ASPN) Shares Down 5.2% – Here’s What Happened

Aspen Aerogels, Inc. (NYSE:ASPN) was down 5.2% during trading on Thursday . The company traded as low as $6.98 and last traded at $6.97. Approximately 733,678 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 1,785,620 shares. The stock had previously closed at $7.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ASPN shares. Seaport Res Ptn lowered Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Craig Hallum reduced their price target on Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Canaccord Genuity Group reduced their price target on Aspen Aerogels from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. B. Riley reduced their price target on Aspen Aerogels from $35.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. Finally, StockNews.com upgraded Aspen Aerogels to a “sell” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

Aspen Aerogels Trading Down 5.5 %

The business has a 50 day moving average of $9.85 and a two-hundred day moving average of $15.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93. The firm has a market capitalization of $569.90 million, a price-to-earnings ratio of 43.41 and a beta of 2.28.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Aspen Aerogels had a return on equity of 7.49% and a net margin of 2.95%. Equities analysts predict that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its stake in Aspen Aerogels by 263.3% during the 3rd quarter. Quest Partners LLC now owns 7,397 shares of the construction company’s stock worth $205,000 after buying an additional 5,361 shares during the period. Sandia Investment Management LP purchased a new stake in shares of Aspen Aerogels in the fourth quarter worth approximately $89,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Aspen Aerogels in the third quarter worth approximately $263,000. Morse Asset Management Inc purchased a new stake in shares of Aspen Aerogels in the third quarter worth approximately $264,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Aspen Aerogels in the fourth quarter worth approximately $129,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Aspen Aerogels Company Profile

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.