Aspen Aerogels (NYSE:ASPN) Reaches New 12-Month Low – Here’s Why

Aspen Aerogels, Inc. (NYSE:ASPN)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.67 and last traded at $10.70, with a volume of 943084 shares trading hands. The stock had previously closed at $11.53.

Wall Street Analysts Forecast Growth

ASPN has been the topic of a number of research analyst reports. Roth Mkm reduced their target price on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Barclays reduced their price objective on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Piper Sandler cut their price objective on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a research report on Wednesday, November 13th. Finally, Canaccord Genuity Group cut their target price on shares of Aspen Aerogels from $28.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Aspen Aerogels Price Performance

The stock has a market capitalization of $885.73 million, a price-to-earnings ratio of 1,080.58 and a beta of 2.14. The company has a 50-day moving average of $13.09 and a 200-day moving average of $19.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASPN. Quent Capital LLC purchased a new stake in shares of Aspen Aerogels during the 3rd quarter worth about $118,000. Point72 DIFC Ltd bought a new stake in shares of Aspen Aerogels during the second quarter valued at approximately $121,000. nVerses Capital LLC raised its position in Aspen Aerogels by 45.0% in the third quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock worth $161,000 after purchasing an additional 1,800 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Aspen Aerogels during the 2nd quarter worth approximately $145,000. Finally, Quest Partners LLC increased its holdings in shares of Aspen Aerogels by 263.3% during the third 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 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.