Aspen Aerogels (NYSE:ASPN) Trading Down 5.7% – Here’s Why

Aspen Aerogels, Inc. (NYSE:ASPN) shares fell 5.7% during trading on Tuesday . The stock traded as low as $14.20 and last traded at $14.35. 247,754 shares were traded during trading, a decline of 85% from the average session volume of 1,623,895 shares. The stock had previously closed at $15.21.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, October 16th. TD Cowen lifted their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Roth Mkm lowered their price objective on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Piper Sandler dropped their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.70.

Aspen Aerogels Stock Down 7.0 %

The firm has a market cap of $1.16 billion, a P/E ratio of 1,408.41 and a beta of 2.12. The stock’s 50-day simple moving average is $19.70 and its 200 day simple moving average is $23.82. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27.

Insider Buying and Selling at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at $14,523,709.20. The trade was a 11.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors have recently made changes to their positions in ASPN. Franklin Resources Inc. raised its position in shares of Aspen Aerogels by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock valued at $815,000 after buying an additional 1,483 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Aspen Aerogels in the third quarter valued at about $498,000. Geode Capital Management LLC raised its stake in shares of Aspen Aerogels by 5.7% in the third quarter. Geode Capital Management LLC now owns 1,385,968 shares of the construction company’s stock worth $38,385,000 after purchasing an additional 75,024 shares during the last quarter. Barclays PLC boosted its stake in shares of Aspen Aerogels by 333.8% in the third quarter. Barclays PLC now owns 92,302 shares of the construction company’s stock worth $2,557,000 after buying an additional 71,024 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Aspen Aerogels in the 3rd quarter worth about $420,000. Institutional investors own 97.64% of the company’s stock.

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.