Aspen Aerogels (NYSE:ASPN) Earns “Buy” Rating from HC Wainwright

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HC Wainwright reiterated their buy rating on shares of Aspen Aerogels (NYSE:ASPN) in a research report sent to investors on Friday morning, AnalystRatings.com reports. The brokerage currently has a $10.00 price target on the construction company’s stock.

“We believe stronger gross margins in 2H19 should be driven by an improvement in product mix, with larger Pyrogel product sales, and implementation of initiatives to offset higher raw material costs. Total operating expenses for 2Q19 were $8.7M compared to our expectations of $9.9M, and $9.7M in 1Q19. The lower operating expenses for the quarter were attributed to reduced incentive compensation. Net loss for the quarter was $5.3M, or $0.22 per share, compared to a net loss of $7.0M, or $0.29 per share in 2Q18. The company ended the quarter with $3.3M in cash and $2.9M in debt. 2019 guidance.”,” HC Wainwright’s analyst wrote.

Separately, ValuEngine raised Aspen Aerogels from a hold rating to a buy rating in a report on Thursday, June 13th.

NYSE:ASPN opened at $6.27 on Friday. The company has a market capitalization of $150.29 million, a price-to-earnings ratio of -5.18 and a beta of 2.10. The company’s 50 day moving average is $6.55. Aspen Aerogels has a 52 week low of $1.60 and a 52 week high of $7.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.73 and a quick ratio of 1.28.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, August 1st. The construction company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). The company had revenue of $29.53 million for the quarter, compared to the consensus estimate of $30.92 million. Aspen Aerogels had a negative net margin of 27.30% and a negative return on equity of 35.92%. On average, sell-side analysts forecast that Aspen Aerogels will post -0.6 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of ASPN. Cowen Prime Services LLC grew its holdings in Aspen Aerogels by 17.2% in the 1st quarter. Cowen Prime Services LLC now owns 740,900 shares of the construction company’s stock worth $1,889,000 after buying an additional 108,800 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Aspen Aerogels in the 2nd quarter worth approximately $735,000. BlackRock Inc. grew its holdings in Aspen Aerogels by 7.2% in the 4th quarter. BlackRock Inc. now owns 414,302 shares of the construction company’s stock worth $883,000 after buying an additional 27,783 shares in the last quarter. Royce & Associates LP grew its holdings in Aspen Aerogels by 2.4% in the 1st quarter. Royce & Associates LP now owns 870,475 shares of the construction company’s stock worth $2,220,000 after buying an additional 20,000 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Aspen Aerogels by 30.5% in the 4th quarter. Deutsche Bank AG now owns 66,400 shares of the construction company’s stock worth $141,000 after buying an additional 15,500 shares in the last quarter. 67.85% of the stock is owned by institutional investors and hedge funds.

About Aspen Aerogels

Aspen Aerogels, Inc, an aerogel technology company, designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets worldwide. The company provides Pyrogel XT-E that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market with operating temperatures greater than 400 C; Pyrogel XTF to provide strong protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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