Aspen Aerogels (NYSE:ASPN) Price Target Raised to $29.00

Aspen Aerogels (NYSE:ASPN) had its price objective lifted by Piper Sandler from $20.00 to $29.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

A number of other research analysts have also recently commented on the stock. HC Wainwright raised their price target on shares of Aspen Aerogels from $20.00 to $25.00 and gave the stock a buy rating in a research note on Friday. TheStreet upgraded shares of Aspen Aerogels from a d+ rating to a c- rating in a research note on Wednesday, March 6th. Finally, Roth Mkm restated a buy rating and set a $22.00 price target on shares of Aspen Aerogels in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $25.17.

Aspen Aerogels Stock Performance

Shares of ASPN opened at $25.11 on Friday. The company has a 50-day simple moving average of $16.72 and a 200-day simple moving average of $13.69. The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a 52 week low of $5.32 and a 52 week high of $25.65.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The business had revenue of $84.22 million during the quarter, compared to analyst estimates of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. During the same quarter in the prior year, the business earned ($0.20) earnings per share. On average, equities research analysts forecast that Aspen Aerogels will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ASPN. AIGH Capital Management LLC bought a new position in shares of Aspen Aerogels in the third quarter valued at approximately $15,067,000. Mesirow Institutional Investment Management Inc. bought a new position in shares of Aspen Aerogels in the fourth quarter valued at approximately $12,015,000. Rice Hall James & Associates LLC raised its stake in shares of Aspen Aerogels by 385.0% in the third quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock valued at $5,359,000 after acquiring an additional 494,662 shares during the last quarter. Worth Venture Partners LLC bought a new position in shares of Aspen Aerogels in the third quarter valued at approximately $3,684,000. Finally, Federated Hermes Inc. raised its stake in shares of Aspen Aerogels by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after acquiring an additional 404,042 shares during the last quarter. Institutional investors 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.