Zacks Investment Research Downgrades Aspen Aerogels, Inc. (ASPN) to Hold

Aspen Aerogels, Inc. (NYSE:ASPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “

Separately, ValuEngine lowered shares of Aspen Aerogels from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Aspen Aerogels has a consensus rating of “Hold” and a consensus price target of $5.08.

Shares of Aspen Aerogels (NYSE ASPN) opened at 4.44 on Monday. Aspen Aerogels has a 52 week low of $3.61 and a 52 week high of $6.71. The stock’s market cap is $91.38 million. The company’s 50-day moving average is $4.19 and its 200 day moving average is $4.29.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Thursday, August 3rd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $24.79 million. Aspen Aerogels had a negative net margin of 22.22% and a negative return on equity of 20.95%. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Analysts forecast that Aspen Aerogels will post ($0.86) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the company. Spark Investment Management LLC raised its position in shares of Aspen Aerogels by 186.0% in the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock valued at $126,000 after buying an additional 19,900 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new stake in Aspen Aerogels in the second quarter valued at approximately $330,000. Renaissance Technologies LLC grew its holdings in Aspen Aerogels by 12.5% in the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock valued at $1,089,000 after purchasing an additional 29,200 shares during the period. Royce & Associates LP grew its holdings in Aspen Aerogels by 39.6% in the first quarter. Royce & Associates LP now owns 413,924 shares of the construction company’s stock valued at $1,718,000 after purchasing an additional 117,397 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Aspen Aerogels by 0.5% in the second quarter. Vanguard Group Inc. now owns 582,689 shares of the construction company’s stock valued at $2,592,000 after purchasing an additional 3,158 shares during the period. 74.41% of the stock is owned by institutional investors and hedge funds.

About Aspen Aerogels

Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.

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