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

Aspen Aerogels, Inc. (NYSE:ASPN) gapped up prior to trading on Thursday . The stock had previously closed at $11.88, but opened at $12.29. Aspen Aerogels shares last traded at $12.43, with a volume of 296,604 shares trading hands.

Analyst Upgrades and Downgrades

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

Aspen Aerogels Price Performance

The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $14.72 and a two-hundred day moving average of $21.31. The firm has a market cap of $1.01 billion, a P/E ratio of 1,233.23 and a beta of 2.12.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASPN. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Aspen Aerogels by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company’s stock worth $341,000 after purchasing an additional 1,339 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Aspen Aerogels by 5.3% in the third quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock valued at $815,000 after purchasing an additional 1,483 shares in the last quarter. nVerses Capital LLC increased its position in shares of Aspen Aerogels by 45.0% in the third 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 during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Aspen Aerogels in the 2nd quarter valued at about $84,000. Finally, Quent Capital LLC acquired a new position in shares of Aspen Aerogels during the 3rd quarter worth approximately $118,000. 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.