Penserra Capital Management LLC Buys Shares of 48,482 Aspen Aerogels, Inc. (NYSE:ASPN)

Penserra Capital Management LLC purchased a new position in Aspen Aerogels, Inc. (NYSE:ASPN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 48,482 shares of the construction company’s stock, valued at approximately $1,342,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ASPN. Point72 Hong Kong Ltd acquired a new stake in shares of Aspen Aerogels during the second quarter worth $84,000. nVerses Capital LLC bought a new stake in Aspen Aerogels during the second quarter valued at $95,000. Quent Capital LLC acquired a new stake in Aspen Aerogels during the 3rd quarter worth about $118,000. Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels in the 2nd quarter worth about $121,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Aspen Aerogels in the 2nd quarter worth about $145,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Aspen Aerogels Price Performance

Shares of NYSE ASPN opened at $14.33 on Wednesday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 1,433.00 and a beta of 2.21. Aspen Aerogels, Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $33.15. The firm’s 50-day simple moving average is $20.69 and its 200 day simple moving average is $24.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93.

Insider Activity at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares in the company, valued at approximately $14,523,709.20. This trade represents a 11.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ASPN. Barclays cut their target price on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Piper Sandler cut their target price 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. Finally, Roth Mkm reduced their price target on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.70.

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.