Aspen Aerogels (NYSE:ASPN) Releases FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPNGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of above $0.03 for the period, compared to the consensus earnings per share estimate of $0.08. The company issued revenue guidance of above $380 million, compared to the consensus revenue estimate of $395.79 million.

Aspen Aerogels Stock Performance

ASPN stock traded up $0.23 during trading on Thursday, hitting $30.67. 1,114,861 shares of the company’s stock traded hands, compared to its average volume of 1,135,577. The stock has a fifty day moving average price of $23.22 and a two-hundred day moving average price of $17.52. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24. 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 $2.34 billion, a price-to-earnings ratio of -67.66 and a beta of 2.29.

Aspen Aerogels (NYSE:ASPNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.14. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The company had revenue of $94.50 million during the quarter, compared to the consensus estimate of $73.04 million. As a group, equities analysts anticipate that Aspen Aerogels will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ASPN shares. Piper Sandler boosted their price target on Aspen Aerogels from $30.00 to $36.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. TheStreet raised shares of Aspen Aerogels from a d+ rating to a c- rating in a report on Wednesday, March 6th. Roth Mkm reissued a buy rating and issued a $36.00 target price (up previously from $28.00) on shares of Aspen Aerogels in a research note on Wednesday. B. Riley upped their price target on shares of Aspen Aerogels from $24.00 to $30.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group boosted their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the stock a buy rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $29.71.

Read Our Latest Report on Aspen Aerogels

Insiders Place Their Bets

In other Aspen Aerogels news, SVP Keith L. Schilling sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $26.84, for a total transaction of $536,800.00. Following the transaction, the senior vice president now 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 link. In other news, SVP Keith L. Schilling sold 20,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $26.84, for a total value of $536,800.00. Following the completion of the sale, the senior vice president now owns 28,792 shares of the company’s stock, valued at approximately $772,777.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Donald R. Young sold 256,944 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was 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 in the company, valued at $14,703,480.20. The disclosure for this sale can be found here. In the last three months, insiders sold 3,832,103 shares of company stock valued at $91,679,369. 4.30% of the stock is currently owned by insiders.

About Aspen Aerogels

(Get Free Report)

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.

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Earnings History and Estimates for Aspen Aerogels (NYSE:ASPN)

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