Aspen Aerogels (NYSE:ASPN) Cut to Market Perform at Oppenheimer

Oppenheimer cut shares of Aspen Aerogels (NYSE:ASPN) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat.com reports.

ASPN has been the topic of a number of other reports. StockNews.com raised Aspen Aerogels to a “sell” rating in a research note on Wednesday, February 19th. B. Riley cut their target price on Aspen Aerogels from $35.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. TD Cowen upgraded shares of Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, March 11th. Roth Mkm dropped their price objective on shares of Aspen Aerogels from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Canaccord Genuity Group reduced their price objective on shares of Aspen Aerogels from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Aspen Aerogels Stock Up 14.8 %

Shares of NYSE:ASPN opened at $4.95 on Thursday. The business’s 50-day moving average is $6.08 and its 200-day moving average is $10.53. Aspen Aerogels has a 1 year low of $4.16 and a 1 year high of $33.15. The company has a market capitalization of $406.42 million, a price-to-earnings ratio of 30.94 and a beta of 2.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Thursday, May 8th. The construction company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $78.72 million for the quarter, compared to the consensus estimate of $82.75 million. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. Aspen Aerogels’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. Equities research analysts predict that Aspen Aerogels will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Aspen Aerogels by 4,757.8% during the 4th quarter. Millennium Management LLC now owns 1,622,022 shares of the construction company’s stock worth $19,270,000 after buying an additional 1,588,632 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Aspen Aerogels in the 4th quarter valued at $13,122,000. Alyeska Investment Group L.P. purchased a new stake in shares of Aspen Aerogels during the 4th quarter valued at $9,504,000. Dendur Capital LP purchased a new position in shares of Aspen Aerogels in the 4th quarter worth about $9,207,000. Finally, Renaissance Technologies LLC grew its position in Aspen Aerogels by 472.4% during the fourth quarter. Renaissance Technologies LLC now owns 766,400 shares of the construction company’s stock valued at $9,105,000 after buying an additional 632,500 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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.