Aspen Aerogels (NYSE:ASPN) Updates FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Aspen Aerogels Trading Down 1.7 %

ASPN traded down $0.28 on Friday, hitting $16.49. 4,214,385 shares of the company were exchanged, compared to its average volume of 1,570,836. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The firm has a fifty day simple moving average of $23.10 and a two-hundred day simple moving average of $24.61. The stock has a market capitalization of $1.27 billion, a PE ratio of 1,649.00 and a beta of 2.21. Aspen Aerogels has a 12 month low of $8.76 and a 12 month high of $33.15.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business’s revenue was up 144.4% on a year-over-year basis. Sell-side analysts expect that Aspen Aerogels will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ASPN shares. Roth Mkm decreased their price objective on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler reduced their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a report on Thursday, October 31st. Benchmark reiterated a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a research report on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average target price of $28.90.

Insider Buying and Selling at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction 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 completion of 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 legal filing with the SEC, which is available at this link. In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was 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 owns 483,640 shares in the company, valued at $14,523,709.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels 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 transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. 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.

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.