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

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.110-0.110 for the period, compared to the consensus EPS estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Aspen Aerogels Stock Performance

Shares of ASPN stock traded down $1.66 on Wednesday, hitting $16.85. 6,756,825 shares of the stock traded hands, compared to its average volume of 1,531,669. The company’s fifty day moving average is $23.58 and its 200 day moving average is $24.66. Aspen Aerogels has a 1-year low of $8.76 and a 1-year high of $33.15. The company has a market capitalization of $1.30 billion, a PE ratio of -1,685.00 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The firm had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 144.4% compared to the same quarter last year. On average, equities research analysts predict that Aspen Aerogels will post 0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a report on Wednesday, August 21st. Barclays began coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. StockNews.com raised Aspen Aerogels to a “sell” rating in a research report on Thursday, October 31st. Finally, TD Cowen boosted their price target on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insider Activity at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 transaction of $978,495.10. Following the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Donald R. Young sold 63,355 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.30% 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.