Wall Street analysts expect Aspen Aerogels, Inc. (NYSE:ASPN) to announce $28.52 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Aspen Aerogels’ earnings, with the lowest sales estimate coming in at $27.30 million and the highest estimate coming in at $29.73 million. Aspen Aerogels posted sales of $29.56 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.5%. The firm is expected to issue its next earnings results after the market closes on Thursday, November 2nd.
On average, analysts expect that Aspen Aerogels will report full-year sales of $28.52 million for the current financial year, with estimates ranging from $105.90 million to $108.64 million. For the next year, analysts forecast that the business will report sales of $124.98 million per share, with estimates ranging from $120.30 million to $129.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Aspen Aerogels.
Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. The company had revenue of $25.10 million during the quarter, compared to analyst estimates of $24.79 million. Aspen Aerogels had a negative net margin of 22.22% and a negative return on equity of 20.95%. Aspen Aerogels’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same period last year, the business earned ($0.02) EPS.
Several research firms recently weighed in on ASPN. Zacks Investment Research upgraded Aspen Aerogels from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Tuesday, September 12th. ValuEngine downgraded Aspen Aerogels from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.08.
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A number of institutional investors have recently made changes to their positions in ASPN. Mesirow Financial Investment Management Inc. bought a new position in Aspen Aerogels in the second quarter worth about $330,000. Renaissance Technologies LLC raised its holdings in Aspen Aerogels by 12.5% in the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock worth $1,089,000 after purchasing an additional 29,200 shares in the last quarter. Royce & Associates LP raised its holdings in Aspen Aerogels by 39.6% in the first quarter. Royce & Associates LP now owns 413,924 shares of the construction company’s stock worth $1,718,000 after purchasing an additional 117,397 shares in the last quarter. Vanguard Group Inc. raised its holdings in Aspen Aerogels by 0.5% in the second quarter. Vanguard Group Inc. now owns 582,689 shares of the construction company’s stock worth $2,592,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its holdings in Aspen Aerogels by 1.1% in the second quarter. Tocqueville Asset Management L.P. now owns 856,055 shares of the construction company’s stock worth $3,809,000 after purchasing an additional 9,400 shares in the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.
Shares of Aspen Aerogels (NYSE:ASPN) traded up 0.2302% on Wednesday, hitting $4.3099. 16,214 shares of the company traded hands. The firm’s market capitalization is $88.71 million. The firm’s 50-day moving average is $4.22 and its 200 day moving average is $4.29. Aspen Aerogels has a 1-year low of $3.61 and a 1-year high of $6.71.
About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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