Aspen Aerogels, Inc. (NYSE:ASPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “

Separately, ValuEngine lowered Aspen Aerogels from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Aspen Aerogels has an average rating of “Hold” and an average price target of $5.08.

Shares of Aspen Aerogels (ASPN) traded up 2.31% on Monday, reaching $4.43. The company had a trading volume of 34,103 shares. Aspen Aerogels has a 12 month low of $3.61 and a 12 month high of $6.71. The firm’s market capitalization is $91.18 million. The firm’s 50 day moving average is $4.17 and its 200 day moving average is $4.28.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, August 3rd. The construction company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.01. The firm had revenue of $25.10 million for the quarter, compared to analyst estimates of $24.79 million. Aspen Aerogels had a negative return on equity of 20.95% and a negative net margin of 22.22%. Aspen Aerogels’s revenue for the quarter was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. On average, equities research analysts expect that Aspen Aerogels will post ($0.86) earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of ASPN. Spark Investment Management LLC grew its holdings in shares of Aspen Aerogels by 186.0% during the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock worth $126,000 after purchasing an additional 19,900 shares during the last quarter. Mesirow Financial Investment Management Inc. purchased a new position in shares of Aspen Aerogels during the second quarter worth about $330,000. Renaissance Technologies LLC grew its holdings in shares of Aspen Aerogels by 12.5% during 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 during the last quarter. Royce & Associates LP grew its holdings in shares of Aspen Aerogels by 39.6% during 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 during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Aspen Aerogels by 0.5% during 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 during the last quarter. 74.41% of the stock is currently owned by institutional investors.

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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