Wall Street analysts expect that Aspen Aerogels Inc (NYSE:ASPN) will report sales of $31.73 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Aspen Aerogels’ earnings. The highest sales estimate is $32.36 million and the lowest is $31.10 million. Aspen Aerogels posted sales of $27.64 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 22nd.
On average, analysts expect that Aspen Aerogels will report full year sales of $31.73 million for the current fiscal year, with estimates ranging from $106.30 million to $107.63 million. For the next fiscal year, analysts expect that the business will report sales of $123.56 million per share. Zacks’ sales averages are a mean average based on a survey of research firms that follow Aspen Aerogels.
Separately, Zacks Investment Research downgraded Aspen Aerogels from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd.
Shares of Aspen Aerogels (ASPN) opened at $4.40 on Tuesday. Aspen Aerogels has a fifty-two week low of $3.84 and a fifty-two week high of $5.58.
In other news, major shareholder Craig A. Huff sold 2,895,981 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $4.30, for a total value of $12,452,718.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.80% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new position in Aspen Aerogels in the 4th quarter valued at about $151,000. Deutsche Bank AG increased its position in Aspen Aerogels by 154.3% in the 4th quarter. Deutsche Bank AG now owns 27,078 shares of the construction company’s stock valued at $132,000 after acquiring an additional 16,430 shares during the period. Needham Investment Management LLC increased its position in Aspen Aerogels by 37.9% in the 4th quarter. Needham Investment Management LLC now owns 600,000 shares of the construction company’s stock valued at $2,928,000 after acquiring an additional 165,000 shares during the period. Renaissance Technologies LLC increased its position in Aspen Aerogels by 9.8% in the 4th quarter. Renaissance Technologies LLC now owns 355,000 shares of the construction company’s stock valued at $1,732,000 after acquiring an additional 31,800 shares during the period. Finally, AWM Investment Company Inc. acquired a new position in Aspen Aerogels in the 4th quarter valued at about $4,880,000. Hedge funds and other institutional investors own 69.94% of the company’s stock.
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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