Aspen Aerogels (NYSE:ASPN) Trading Down 5.1% After Insider Selling

Aspen Aerogels, Inc. (NYSE:ASPN) shares were down 5.1% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $24.60 and last traded at $24.74. Approximately 91,155 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 1,330,852 shares. The stock had previously closed at $26.06.

Specifically, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares in the company, valued at approximately $14,523,709.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Craig Hallum boosted their price target on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Roth Mkm reissued a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a research note on Wednesday, August 21st. TD Cowen lifted their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Benchmark restated a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. Finally, HC Wainwright upped their price target on Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Price Performance

The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. The company’s fifty day moving average price is $25.33 and its two-hundred day moving average price is $23.82. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -54.91 and a beta of 2.16.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The company’s revenue was up 144.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, equities research analysts forecast that Aspen Aerogels, Inc. will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently bought and sold shares of ASPN. Banque Cantonale Vaudoise grew its stake in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,252 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Aspen Aerogels in the second quarter valued at $84,000. nVerses Capital LLC bought a new position in Aspen Aerogels in the second quarter valued at $95,000. Point72 DIFC Ltd acquired a new stake in Aspen Aerogels in the 2nd quarter valued at $121,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Aspen Aerogels during the 2nd quarter worth about $145,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.