Allspring Global Investments Holdings LLC Acquires 192,520 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Allspring Global Investments Holdings LLC raised its holdings in Aspen Aerogels, Inc. (NYSE:ASPN) by 415.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,884 shares of the construction company’s stock after purchasing an additional 192,520 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Aspen Aerogels were worth $6,615,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ASPN. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Aspen Aerogels by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company’s stock valued at $341,000 after buying an additional 1,339 shares in the last quarter. nVerses Capital LLC increased its position in Aspen Aerogels by 45.0% in the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock valued at $161,000 after acquiring an additional 1,800 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Aspen Aerogels by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,580 shares of the construction company’s stock worth $257,000 after acquiring an additional 1,938 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Aspen Aerogels during the second quarter worth approximately $84,000. Finally, Quent Capital LLC bought a new stake in shares of Aspen Aerogels during the third quarter valued at approximately $118,000. Institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Down 2.1 %

Shares of ASPN stock opened at $19.00 on Monday. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -43.18 and a beta of 2.16. Aspen Aerogels, Inc. has a 12-month low of $7.17 and a 12-month high of $33.15. The firm has a fifty day moving average of $25.51 and a 200-day moving average of $24.51. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. TD Cowen raised their price target on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a research note on Wednesday, August 21st. Barclays began coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target on the stock. Finally, Piper Sandler cut their target price 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. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.40.

Insider Activity at Aspen Aerogels

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction 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 $626,610.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were 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 approximately $14,523,709.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $978,495.10. Following the transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

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.