Aspen Aerogels (NYSE:ASPN) Shares Up 8.2% – Here’s What Happened

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price shot up 8.2% on Monday . The company traded as high as $14.11 and last traded at $14.09. 318,315 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,019,517 shares. The stock had previously closed at $13.02.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ASPN shares. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Piper Sandler dropped their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. StockNews.com raised shares of Aspen Aerogels to a “sell” rating in a research report on Wednesday, November 13th. Barclays dropped their price objective on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Roth Mkm reduced their target price on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.00.

Aspen Aerogels Stock Performance

The stock has a 50-day moving average price of $14.25 and a 200-day moving average price of $20.83. The firm has a market capitalization of $1.08 billion, a PE ratio of 1,319.32 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48.

Hedge Funds Weigh In On Aspen Aerogels

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new stake in shares of Aspen Aerogels during the second quarter worth $84,000. Quent Capital LLC bought a new position in shares of Aspen Aerogels during the third quarter valued at approximately $118,000. Point72 DIFC Ltd acquired a new stake in shares of Aspen Aerogels during the 2nd quarter worth approximately $121,000. Public Employees Retirement Association of Colorado bought a new stake in shares of Aspen Aerogels in the 2nd quarter worth approximately $145,000. Finally, nVerses Capital LLC boosted its position in Aspen Aerogels by 45.0% during the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,800 shares during the period. Institutional investors own 97.64% 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.