Aspen Aerogels, Inc. (NYSE:ASPN – Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 5,520,000 shares, an increase of 21.1% from the August 15th total of 4,560,000 shares. Based on an average daily volume of 1,590,000 shares, the days-to-cover ratio is currently 3.5 days.
Aspen Aerogels Stock Up 2.6 %
Shares of Aspen Aerogels stock traded up $0.63 on Friday, hitting $24.84. The company had a trading volume of 1,395,862 shares, compared to its average volume of 1,297,808. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -56.45 and a beta of 2.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. Aspen Aerogels has a 1 year low of $5.94 and a 1 year high of $33.15. The stock has a 50 day moving average of $24.81 and a 200-day moving average of $22.94.
Aspen Aerogels (NYSE:ASPN – Get Free Report) last announced its earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 144.4% on a year-over-year basis. As a group, sell-side analysts forecast that Aspen Aerogels will post 0.21 earnings per share for the current year.
Analyst Ratings Changes
ASPN has been the subject of several research reports. HC Wainwright increased their target price on Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum boosted their target price on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Barclays initiated coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target for the company. TD Cowen lifted their price target on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Piper Sandler increased their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.70.
Insider Transactions at Aspen Aerogels
In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Aspen Aerogels
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in Aspen Aerogels in the 1st quarter worth about $1,181,000. Oppenheimer & Co. Inc. bought a new stake in shares of Aspen Aerogels in the first quarter valued at approximately $388,000. AIGH Capital Management LLC lifted its stake in shares of Aspen Aerogels by 3.0% during the 4th quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after buying an additional 52,462 shares in the last quarter. Comerica Bank bought a new position in Aspen Aerogels in the 1st quarter worth approximately $1,992,000. Finally, Vanguard Group Inc. grew its stake in Aspen Aerogels by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after buying an additional 175,906 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.
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.