Peregrine Investment Management Inc. Makes New $4.18 Million Investment in Aspen Aerogels, Inc. $ASPN

Peregrine Investment Management Inc. acquired a new stake in shares of Aspen Aerogels, Inc. (NYSE:ASPN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 600,000 shares of the construction company’s stock, valued at approximately $4,176,000. Aspen Aerogels comprises about 2.1% of Peregrine Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Peregrine Investment Management Inc. owned about 0.73% of Aspen Aerogels as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. grew its stake in shares of Aspen Aerogels by 6.8% in the second quarter. Raymond James Financial Inc. now owns 26,559 shares of the construction company’s stock worth $157,000 after purchasing an additional 1,687 shares during the last quarter. Legal & General Group Plc lifted its holdings in Aspen Aerogels by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 67,130 shares of the construction company’s stock worth $397,000 after buying an additional 2,324 shares during the period. Osaic Holdings Inc. grew its position in shares of Aspen Aerogels by 29.1% in the 2nd quarter. Osaic Holdings Inc. now owns 10,615 shares of the construction company’s stock worth $63,000 after buying an additional 2,390 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Aspen Aerogels by 67.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 6,343 shares of the construction company’s stock worth $38,000 after buying an additional 2,551 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Aspen Aerogels by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 24,671 shares of the construction company’s stock valued at $146,000 after buying an additional 2,656 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ASPN has been the subject of a number of research analyst reports. Zacks Research raised Aspen Aerogels from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aspen Aerogels in a research report on Monday, December 29th. Canaccord Genuity Group cut their target price on shares of Aspen Aerogels from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, Barclays reduced their price target on shares of Aspen Aerogels from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Aspen Aerogels Price Performance

ASPN opened at $3.32 on Friday. The company has a current ratio of 3.94, a quick ratio of 3.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $273.98 million, a price-to-earnings ratio of -0.89 and a beta of 2.99. The stock has a fifty day simple moving average of $3.28 and a two-hundred day simple moving average of $5.38. Aspen Aerogels, Inc. has a 12-month low of $2.80 and a 12-month high of $9.82.

Aspen Aerogels Profile

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.