Aspen Aerogels (NYSE:ASPN) Updates FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.090- for the period, compared to the consensus earnings per share estimate of 0.070. The company issued revenue guidance of $390.0 million-, compared to the consensus revenue estimate of $393.1 million.

Aspen Aerogels Stock Up 1.8 %

Shares of NYSE ASPN opened at $21.85 on Friday. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.66 billion, a PE ratio of -49.66 and a beta of 2.15. Aspen Aerogels has a 12-month low of $5.32 and a 12-month high of $31.74. The stock’s fifty day simple moving average is $25.07 and its two-hundred day simple moving average is $20.66.

Aspen Aerogels (NYSE:ASPN) last posted its 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 during the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. Aspen Aerogels’s revenue for the quarter was up 144.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.22) earnings per share. As a group, analysts expect that Aspen Aerogels will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ASPN. TD Cowen increased their price objective on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company a buy rating in a research report on Wednesday, June 5th. Piper Sandler boosted their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the company an overweight rating in a report on Wednesday, May 29th. Craig Hallum increased their price target on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a buy rating in a report on Friday, June 14th. HC Wainwright increased their price target on Aspen Aerogels from $25.00 to $30.00 and gave the stock a buy rating in a research report on Friday. Finally, Roth Mkm reaffirmed a buy rating and set a $36.00 price objective (up from $28.00) on shares of Aspen Aerogels in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $29.20.

Insiders Place Their Bets

In other news, SVP Keith L. Schilling sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $26.84, for a total transaction of $536,800.00. Following the completion of the sale, the senior vice president now owns 28,792 shares in the company, valued at approximately $772,777.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Aspen Aerogels news, SVP Keith L. Schilling sold 20,000 shares of Aspen Aerogels stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $26.84, for a total transaction of $536,800.00. Following the completion of the sale, the senior vice president now directly owns 28,792 shares in the company, valued at $772,777.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the sale, the insider now directly owns 12,280,426 shares in the company, valued at approximately $288,590,011. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,776,944 shares of company stock valued at $90,299,843. Insiders own 4.30% of the company’s stock.

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.