Aspen Aerogels Inc. (NYSE: ASPN) Disappoints Wall Street With 5.32% Stock Price Gain

In the latest trading session, 1.34 million Aspen Aerogels Inc. (NYSE:ASPN) shares changed hands as the company’s beta touched 1.94. With the company’s most recent per share price at $13.06 changing hands around $0.66 or 5.32% at last look, the market valuation stands at $996.74M. ASPN’s current price is a discount, trading about -32.62% off its 52-week high of $17.32. The share price had its 52-week low at $5.32, which suggests the last value was 59.26% up since then. When we look at Aspen Aerogels Inc.’s average trading volume, we note the 10-day average is 0.82 million shares, with the 3-month average coming to 7.88.

Aspen Aerogels Inc. (NYSE:ASPN) trade information

Instantly ASPN is in green as seen in intraday trades today. With action 15.47%, the performance over the past five days has been green. The jump to weekly highs of 13.86 added 5.32% to the stock’s daily price. The company’s shares are showing year-to-date downside of -17.24%, with the 5-day performance at 15.47% in the green. However, in the 30-day time frame, Aspen Aerogels Inc. (NYSE:ASPN) is -2.90% down. Looking at the short shares, we see there were 4.54 million shares sold at short interest cover period of 5.58 days.

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Aspen Aerogels Inc. (ASPN) estimates and forecasts

Data shows that the Aspen Aerogels Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 96.10% over the past 6 months, a 77.27% in annual growth rate that is considerably higher than the industry average of 14.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Aspen Aerogels Inc. will rise 58.30%, while the growth in revenue is estimated to hit 68.20% for the next quarter. Year-over-year growth is forecast to reach 55.40% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $78.73 million. 9 analysts are of the opinion that Aspen Aerogels Inc.’s revenue for the quarter ending Jun 2024 will be $86.49 million. The company’s revenue for the corresponding quarters a year ago was $45.14 million and $48.16 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 74.40%. The estimates for the next quarter sales put growth at 79.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 14.58%. The 2024 estimates are for Aspen Aerogels Inc. earnings to increase by 71.72%.

Aspen Aerogels Inc. (NYSE:ASPN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.04% of Aspen Aerogels Inc. shares while 96.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 99.85%. There are 96.81% institutions holding the Aspen Aerogels Inc. stock share, with Kim, LLC the top institutional holder. As of Jun 29, 2023, the company held 22.48% of the shares, roughly 15.78 million ASPN shares worth $124.51 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.49% or 3.85 million shares worth $30.4 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Needham Small Cap Growth Fund. With 2.05 million shares estimated at $16.16 million under it, the former controlled 2.92% of total outstanding shares. On the other hand, Needham Small Cap Growth Fund held about 1.89% of the shares, roughly 1.32 million shares worth around $10.45 million.

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