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

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.090- for the period, compared to the consensus 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 Performance

Shares of NYSE ASPN opened at $21.85 on Monday. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average price is $25.07 and its two-hundred day moving average price is $20.66. Aspen Aerogels has a 52-week low of $5.32 and a 52-week high of $31.74. The stock has a market capitalization of $1.66 billion, a P/E ratio of -49.66 and a beta of 2.15.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly 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 negative return on equity of 6.35% and a negative net margin of 10.73%. The business had revenue of $117.80 million for the quarter, compared to the consensus estimate of $101.99 million. During the same quarter last year, the business posted ($0.22) EPS. The business’s revenue was up 144.4% on a year-over-year basis. As a group, sell-side analysts forecast that Aspen Aerogels will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ASPN shares. Benchmark reaffirmed a buy rating and set a $14.00 price target on shares of Aspen Aerogels in a report on Thursday. HC Wainwright increased their price target on Aspen Aerogels from $25.00 to $30.00 and gave the company a buy rating in a research note on Friday. Craig Hallum upped their price objective on Aspen Aerogels from $33.00 to $38.00 and gave the company a buy rating in a report on Friday, June 14th. Barclays started coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They issued an overweight rating and a $27.00 price target on the stock. Finally, TD Cowen raised 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. One 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 company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $29.20.

Insider Activity

In related news, CEO Donald R. Young sold 256,944 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the transaction, the chief executive officer now owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of Aspen Aerogels stock in a transaction 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 transaction, the insider now owns 12,280,426 shares in the company, valued at approximately $288,590,011. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Donald R. Young sold 256,944 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the sale, the chief executive officer now owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

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.