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

Aspen Aerogels, Inc. (NYSE:ASPN)’s stock price traded down 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 mid-day trading, a decline of 85% from the average session volume of 1,623,895 shares. The stock had previously closed at $15.21.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASPN. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Aspen Aerogels in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. TD Cowen lifted their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Roth Mkm reduced their price objective on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Finally, Barclays decreased their price target on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and an average target price of $28.70.

Aspen Aerogels Trading Down 7.0 %

The firm has a 50-day moving average of $19.70 and a two-hundred day moving average of $23.82. The firm has a market capitalization of $1.16 billion, a P/E ratio of 1,408.41 and a beta of 2.12. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27.

Insider Transactions at Aspen Aerogels

In other news, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The trade was a 11.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

A number of institutional investors have recently made changes to their positions in ASPN. Driehaus Capital Management LLC boosted its holdings in shares of Aspen Aerogels by 130.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after purchasing an additional 1,220,724 shares during the last quarter. FMR LLC lifted its stake in shares of Aspen Aerogels by 23.6% in the third quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after buying an additional 773,647 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Aspen Aerogels by 562.3% during the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock worth $18,382,000 after purchasing an additional 654,350 shares during the period. Millennium Management LLC purchased a new stake in Aspen Aerogels during the second quarter worth about $9,339,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Aspen Aerogels during the 2nd quarter worth $8,340,000. Hedge funds and other 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.