Zacks Investment Research Downgrades Aspen Aerogels (NYSE:ASPN) to Sell

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

Separately, ValuEngine downgraded shares of Aspen Aerogels from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 4th.

Shares of ASPN traded up $0.29 during midday trading on Tuesday, hitting $7.30. 6,608 shares of the company traded hands, compared to its average volume of 41,508. Aspen Aerogels has a one year low of $1.60 and a one year high of $7.54. The firm has a market cap of $165.49 million, a P/E ratio of -6.03 and a beta of 2.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.58 and a quick ratio of 1.05. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $6.17.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Thursday, October 31st. The construction company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. The company 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%. Sell-side analysts forecast that Aspen Aerogels will post -0.62 EPS for the current fiscal year.

In related news, VP Kelley Conte sold 4,886 shares of Aspen Aerogels stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $7.01, for a total transaction of $34,250.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.40% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of ASPN. Harvey Partners LLC grew its position in Aspen Aerogels by 0.3% in the second quarter. Harvey Partners LLC now owns 1,003,000 shares of the construction company’s stock worth $7,151,000 after acquiring an additional 3,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Aspen Aerogels by 57.9% in the 2nd quarter. Vanguard Group Inc. now owns 676,514 shares of the construction company’s stock worth $4,824,000 after purchasing an additional 248,100 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Aspen Aerogels by 26.7% in the 2nd quarter. BlackRock Inc. now owns 502,708 shares of the construction company’s stock worth $3,584,000 after purchasing an additional 105,803 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Aspen Aerogels in the 2nd quarter worth about $3,309,000. Finally, Russell Investments Group Ltd. increased its position in shares of Aspen Aerogels by 659.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 369,746 shares of the construction company’s stock valued at $2,189,000 after purchasing an additional 321,047 shares during the last quarter. Institutional investors own 67.23% of the company’s stock.

Aspen Aerogels Company Profile

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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