Aspen Aerogels (NYSE:ASPN) Cut to “Hold” at Seaport Res Ptn

Aspen Aerogels (NYSE:ASPN) was downgraded by research analysts at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Piper Sandler lowered their target price on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. 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. Canaccord Genuity Group lowered their price target 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. StockNews.com raised shares of Aspen Aerogels to a “sell” rating in a research note on Saturday, February 8th. Finally, Barclays lowered their target price on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.11.

Aspen Aerogels Stock Performance

NYSE:ASPN opened at $8.97 on Wednesday. The stock’s 50-day moving average is $12.36 and its 200-day moving average is $18.63. The stock has a market cap of $735.58 million, a P/E ratio of 897.40 and a beta of 2.14. Aspen Aerogels has a 1-year low of $8.43 and a 1-year high of $33.15. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27.

Aspen Aerogels (NYSE:ASPN) last posted its 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 net margin of 0.36% and a return on equity of 5.06%. Equities research analysts anticipate that Aspen Aerogels will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Aerogels

Institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC acquired a new stake in shares of Aspen Aerogels in the 3rd quarter valued at about $10,126,000. Oppenheimer & Co. Inc. boosted its holdings in Aspen Aerogels by 167.2% in the third quarter. Oppenheimer & Co. Inc. now owns 102,535 shares of the construction company’s stock worth $2,839,000 after acquiring an additional 64,154 shares in the last quarter. Sanders Morris Harris LLC grew its stake in Aspen Aerogels by 337.5% in the fourth quarter. Sanders Morris Harris LLC now owns 35,000 shares of the construction company’s stock valued at $436,000 after acquiring an additional 27,000 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Aspen Aerogels during the third quarter valued at approximately $1,342,000. Finally, Geode Capital Management LLC increased its holdings in shares of Aspen Aerogels by 5.7% during the third quarter. Geode Capital Management LLC now owns 1,385,968 shares of the construction company’s stock valued at $38,385,000 after acquiring an additional 75,024 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.