Aspen Aerogels (NYSE:ASPN) Updates FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Aspen Aerogels Stock Down 1.7 %

ASPN traded down $0.28 on Friday, hitting $16.49. The company had a trading volume of 4,214,385 shares, compared to its average volume of 1,570,836. The stock has a fifty day moving average price of $23.10 and a 200-day moving average price of $24.61. Aspen Aerogels has a 12-month low of $8.76 and a 12-month high of $33.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 1,649.00 and a beta of 2.21.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The company had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The firm’s quarterly revenue was up 144.4% compared to the same quarter last year. Analysts predict that Aspen Aerogels will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Roth Mkm lowered their price target on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a report on Friday. Piper Sandler lowered their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Benchmark reissued a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. Finally, StockNews.com raised Aspen Aerogels to a “sell” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

Insider Activity

In other news, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 483,640 shares in the company, valued at $14,523,709.20. The trade was 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 through this link. In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% 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.