Zacks Investment Research upgraded shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a hold rating to a buy rating in a research note published on Thursday. The firm currently has $5.50 price objective on the construction company’s stock.

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 cut shares of Aspen Aerogels from a sell rating to a strong sell rating in a research report on Friday, July 28th.

Aspen Aerogels (NYSE ASPN) traded down $0.03 during mid-day trading on Thursday, reaching $4.87. 21,200 shares of the company were exchanged, compared to its average volume of 39,852. Aspen Aerogels has a twelve month low of $3.63 and a twelve month high of $4.97.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. The business had revenue of $27.20 million during the quarter, compared to analysts’ expectations of $28.23 million. Aspen Aerogels had a negative net margin of 22.72% and a negative return on equity of 21.86%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. analysts anticipate that Aspen Aerogels will post -0.88 earnings per share for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. Mesirow Financial Investment Management Inc. acquired a new position in Aspen Aerogels in the 2nd quarter valued at approximately $330,000. Essex Investment Management Co. LLC acquired a new position in Aspen Aerogels in the 3rd quarter valued at approximately $823,000. Quantum Capital Management increased its position in Aspen Aerogels by 1,552.9% in the 3rd quarter. Quantum Capital Management now owns 223,966 shares of the construction company’s stock valued at $974,000 after acquiring an additional 210,416 shares during the period. Renaissance Technologies LLC increased its position in Aspen Aerogels by 12.5% in the 1st quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock valued at $1,089,000 after acquiring an additional 29,200 shares during the period. Finally, Vanguard Group Inc. increased its position in Aspen Aerogels by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 582,689 shares of the construction company’s stock valued at $2,592,000 after acquiring an additional 3,158 shares during the period. Hedge funds and other institutional investors own 75.24% 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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