Aspen Aerogels (NYSE:ASPN) Releases FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.110-0.110 for the period, compared to the consensus EPS estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ASPN. Benchmark reissued a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. TD Cowen upped their price target on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Piper Sandler cut their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Roth Mkm cut their price target on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.90.

Aspen Aerogels Price Performance

NYSE:ASPN traded down $0.28 on Friday, reaching $16.49. 4,214,385 shares of the company’s stock traded hands, compared to its average volume of 3,088,569. 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 stock has a 50-day simple moving average of $23.10 and a 200-day simple moving average of $24.61. The firm has a market cap of $1.27 billion, a PE ratio of 1,650.65 and a beta of 2.21. Aspen Aerogels has a 12 month low of $8.76 and a 12 month high of $33.15.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. The company had revenue of $117.80 million for the quarter, compared to the consensus estimate of $101.99 million. Aspen Aerogels had a return on equity of 5.08% and a net margin of 0.36%. The firm’s revenue for the quarter was up 144.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) earnings per share. Equities research analysts forecast that Aspen Aerogels will post 0.1 earnings per share for the current year.

Insider Activity

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

About Aspen Aerogels

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.