Aspen Aerogels (NYSE:ASPN) Share Price Breaks Above 50 Day Moving Average – What’s Next?

Aspen Aerogels, Inc. (NYSE:ASPN) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $5.25 and traded as high as $6.11. Aspen Aerogels shares last traded at $6.0430, with a volume of 2,400,890 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on ASPN. Wall Street Zen upgraded Aspen Aerogels from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Roth Capital reiterated a “buy” rating and issued a $7.75 target price on shares of Aspen Aerogels in a report on Friday, August 7th. B. Riley Financial reissued a “buy” rating on shares of Aspen Aerogels in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Aspen Aerogels in a research note on Monday, September 21st. Finally, Barclays raised their price objective on Aspen Aerogels from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Aspen Aerogels currently has a consensus rating of “Hold” and a consensus target price of $6.25.

Aspen Aerogels Trading Up 23.1%

The business’s 50-day simple moving average is $5.25 and its two-hundred day simple moving average is $4.71. The stock has a market capitalization of $501.51 million, a price-to-earnings ratio of -3.82 and a beta of 3.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.52 and a quick ratio of 2.24.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Thursday, November 5th. The construction company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.20. The business had revenue of $85.18 million for the quarter, compared to the consensus estimate of $72.07 million. Aspen Aerogels had a negative net margin of 62.45% and a negative return on equity of 31.12%. On average, research analysts anticipate that Aspen Aerogels, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Aspen Aerogels

In related news, major shareholder Wood River Capital, Llc sold 12,280,426 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $4.73, for a total value of $58,086,414.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.96% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

Several institutional investors and hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC grew its position in shares of Aspen Aerogels by 6.7% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 32,050 shares of the construction company’s stock valued at $203,000 after buying an additional 2,000 shares during the last quarter. Royal Bank of Canada lifted its holdings in Aspen Aerogels by 95.8% in the first quarter. Royal Bank of Canada now owns 8,523 shares of the construction company’s stock worth $29,000 after acquiring an additional 4,169 shares during the last quarter. Legal & General Group Plc bought a new position in Aspen Aerogels in the second quarter worth about $44,000. Pallas Capital Advisors LLC acquired a new position in Aspen Aerogels in the second quarter valued at approximately $69,000. Finally, Equitable Holdings Inc. acquired a new position in Aspen Aerogels in the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Company Profile

Aspen Aerogels, Inc is an advanced materials company that develops, manufactures and sells aerogel-based products. Aerogels are highly porous materials used for thermal management, insulation and protection. The company serves customers in the energy, industrial, transportation and building materials markets.

Its product portfolio includes thermal barriers designed to help protect electric vehicle batteries from thermal runaway, as well as insulation products for industrial, energy infrastructure and building applications.