Ameriprise Financial Inc. boosted its stake in Aspen Aerogels Inc. (NYSE:ASPN) by 12.9% during the second quarter, Holdings Channel reports. The firm owned 872,629 shares of the company’s stock after buying an additional 99,600 shares during the period. Ameriprise Financial Inc. owned approximately 4.24% of Aspen Aerogels worth $4,338,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ASPN. Balter Liquid Alternatives LLC boosted its position in Aspen Aerogels by 162.8% in the first quarter. Balter Liquid Alternatives LLC now owns 33,236 shares of the company’s stock valued at $150,000 after buying an additional 20,590 shares during the last quarter. GSA Capital Partners LLP boosted its position in Aspen Aerogels by 71.6% in the second quarter. GSA Capital Partners LLP now owns 44,129 shares of the company’s stock valued at $219,000 after buying an additional 18,419 shares during the last quarter. Palisade Capital Management LLC NJ bought a new position in Aspen Aerogels during the first quarter valued at $221,000. Jacobs Levy Equity Management Inc. bought a new position in Aspen Aerogels during the first quarter valued at $371,000. Finally, Royce & Associates LP boosted its position in Aspen Aerogels by 44.1% in the first quarter. Royce & Associates LP now owns 97,996 shares of the company’s stock valued at $441,000 after buying an additional 30,011 shares during the last quarter. 76.10% of the stock is owned by institutional investors and hedge funds.
Aspen Aerogels Inc. (NYSE:ASPN) traded down 2.42% during trading on Tuesday, hitting $6.06. 935 shares of the company’s stock were exchanged. Aspen Aerogels Inc. has a 12-month low of $3.38 and a 12-month high of $8.87. The company’s 50-day moving average price is $5.45 and its 200 day moving average price is $4.82. The firm’s market cap is $124.73 million.
Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Aspen Aerogels had a negative net margin of 3.14% and a negative return on equity of 3.35%. The firm had revenue of $27.70 million for the quarter, compared to analysts’ expectations of $30.99 million. During the same quarter last year, the company earned ($0.12) EPS. Equities analysts forecast that Aspen Aerogels Inc. will post ($0.31) earnings per share for the current fiscal year.
ASPN has been the subject of several recent research reports. Canaccord Genuity restated a “buy” rating and set a $8.50 target price on shares of Aspen Aerogels in a research report on Thursday, August 4th. Zacks Investment Research upgraded shares of Aspen Aerogels from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. JPMorgan Chase & Co. cut their target price on shares of Aspen Aerogels from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. Craig Hallum initiated coverage on shares of Aspen Aerogels in a research report on Tuesday, September 20th. They set a “buy” rating and a $10.00 target price for the company. Finally, Citigroup Inc. cut their target price on shares of Aspen Aerogels from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $7.70.
In related news, Director Richard F. Reilly purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were purchased at an average price of $4.82 per share, with a total value of $48,200.00. Following the purchase, the director now owns 36,178 shares of the company’s stock, valued at $174,377.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William P. Noglows purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was bought at an average cost of $4.98 per share, for a total transaction of $99,600.00. Following the purchase, the director now directly owns 46,178 shares in the company, valued at approximately $229,966.44. The disclosure for this purchase can be found here. 14.70% of the stock is currently owned by corporate insiders.
Aspen Aerogels Company Profile
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.