Aspen Aerogels (ASPN) Rating Lowered to Hold at Zacks Investment Research

Aspen Aerogels (NYSE:ASPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Shares of Aspen Aerogels (ASPN) opened at $5.06 on Wednesday. Aspen Aerogels has a 12 month low of $3.84 and a 12 month high of $5.14. The company has a market capitalization of $119.60, a price-to-earnings ratio of -5.06 and a beta of 1.09.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Thursday, November 2nd. The construction company reported ($0.13) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. Aspen Aerogels had a negative return on equity of 21.86% and a negative net margin of 22.72%. The company had revenue of $27.20 million for the quarter, compared to the consensus estimate of $28.23 million. During the same quarter in the previous year, the business earned ($0.13) EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. sell-side analysts anticipate that Aspen Aerogels will post -0.88 earnings per share for the current year.

In related news, major shareholder Craig A. Huff sold 2,895,981 shares of Aspen Aerogels stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $4.30, for a total value of $12,452,718.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 16.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ASPN. Quantum Capital Management grew its holdings in shares of Aspen Aerogels by 1,552.9% in the 3rd quarter. Quantum Capital Management now owns 223,966 shares of the construction company’s stock worth $974,000 after acquiring an additional 210,416 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Aspen Aerogels in the 3rd quarter worth $823,000. Oaktop Capital Management II L.P. grew its holdings in shares of Aspen Aerogels by 14.6% in the 3rd quarter. Oaktop Capital Management II L.P. now owns 1,399,001 shares of the construction company’s stock worth $6,086,000 after acquiring an additional 177,953 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Aspen Aerogels by 41.6% in the 2nd quarter. Royce & Associates LP now owns 585,954 shares of the construction company’s stock worth $2,607,000 after acquiring an additional 172,030 shares during the last quarter. Finally, Harvey Partners LLC grew its holdings in shares of Aspen Aerogels by 32.2% in the 3rd quarter. Harvey Partners LLC now owns 379,100 shares of the construction company’s stock worth $1,649,000 after acquiring an additional 92,432 shares during the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.

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Aspen Aerogels Company Profile

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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