Aspen Aerogels (NYSE:ASPN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Aspen Aerogels (NYSE:ASPN) from a hold rating to a sell rating in a research report report published on Thursday, Zacks.com reports.

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. “

ASPN has been the subject of a number of other reports. ValuEngine lowered shares of Aspen Aerogels from a strong-buy rating to a buy rating in a research note on Wednesday, September 4th. HC Wainwright reissued a buy rating and set a $10.00 target price on shares of Aspen Aerogels in a research note on Friday, August 2nd.

Aspen Aerogels stock traded down $0.07 during midday trading on Thursday, reaching $6.55. 35,430 shares of the stock traded hands, compared to its average volume of 53,199. The company has a current ratio of 1.58, a quick ratio of 1.08 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $6.11 and a two-hundred day moving average price of $5.88. The firm has a market cap of $160.38 million, a price-to-earnings ratio of -5.41 and a beta of 2.06. Aspen Aerogels has a fifty-two week low of $1.60 and a fifty-two week high of $7.50.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, October 31st. The construction company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $35.43 million during the quarter, compared to analyst estimates of $33.68 million. Aspen Aerogels had a negative net margin of 21.56% and a negative return on equity of 34.45%. Analysts anticipate that Aspen Aerogels will post -0.62 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of ASPN. Bailard Inc. acquired a new stake in shares of Aspen Aerogels in the 3rd quarter worth approximately $91,000. Dalton Greiner Hartman Maher & Co. acquired a new stake in Aspen Aerogels during the third quarter valued at approximately $227,000. Russell Investments Group Ltd. lifted its stake in Aspen Aerogels by 2,335.0% during the second quarter. Russell Investments Group Ltd. now owns 48,699 shares of the construction company’s stock valued at $347,000 after purchasing an additional 46,699 shares during the last quarter. Boston Partners acquired a new stake in Aspen Aerogels during the second quarter valued at approximately $440,000. Finally, Morgan Stanley lifted its stake in Aspen Aerogels by 8.2% during the second quarter. Morgan Stanley now owns 83,203 shares of the construction company’s stock valued at $593,000 after purchasing an additional 6,288 shares during the last quarter. 68.06% of the stock is owned by hedge funds and other institutional investors.

About Aspen Aerogels

Aspen Aerogels, Inc, an aerogel technology company, designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets worldwide. The company provides Pyrogel XT-E that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market with operating temperatures greater than 400 C; Pyrogel XTF to provide strong protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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