Aspen Aerogels, Inc. (NYSE:ASPN) Short Interest Down 13.0% in January

Aspen Aerogels, Inc. (NYSE:ASPN) was the recipient of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 7,597,323 shares, a decrease of 13.0% from the January 15th total of 8,730,143 shares. Currently, 9.5% of the shares of the company are short sold. Based on an average daily volume of 1,562,950 shares, the days-to-cover ratio is currently 4.9 days. Based on an average daily volume of 1,562,950 shares, the days-to-cover ratio is currently 4.9 days. Currently, 9.5% of the shares of the company are short sold.

Institutional Trading of Aspen Aerogels

Several hedge funds and other institutional investors have recently made changes to their positions in ASPN. Peregrine Investment Management Inc. acquired a new stake in shares of Aspen Aerogels in the third quarter valued at about $4,176,000. Y Intercept Hong Kong Ltd acquired a new position in Aspen Aerogels during the second quarter worth about $484,000. SG Americas Securities LLC increased its holdings in Aspen Aerogels by 98.6% in the second quarter. SG Americas Securities LLC now owns 133,821 shares of the construction company’s stock valued at $792,000 after buying an additional 66,427 shares in the last quarter. Palogic Value Management L.P. lifted its position in shares of Aspen Aerogels by 43.5% during the 2nd quarter. Palogic Value Management L.P. now owns 610,000 shares of the construction company’s stock valued at $3,611,000 after acquiring an additional 185,000 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of Aspen Aerogels during the 2nd quarter valued at approximately $10,459,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Price Performance

Aspen Aerogels stock opened at $3.54 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.94 and a quick ratio of 3.33. The business has a 50 day simple moving average of $3.28 and a 200-day simple moving average of $5.28. Aspen Aerogels has a 12 month low of $2.80 and a 12 month high of $9.78. The stock has a market capitalization of $292.17 million, a PE ratio of -0.95 and a beta of 2.99.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Aspen Aerogels from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 15th. Canaccord Genuity Group cut their target price on shares of Aspen Aerogels from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Barclays reduced their price target on shares of Aspen Aerogels from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aspen Aerogels in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.50.

Aspen Aerogels Company Profile

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.