.jpg "Aspen Aerogels (NYSE: ASPN)")
In a report released today, Amit Dayal from H.C. Wainwright reiterated a Buy rating on Aspen Aerogels (ASPN), with a price target of $10. The company’s shares closed yesterday at $6.18.
Dayal noted:
“We believe stronger gross margins in 2H19 should be driven by an improvement in product mix, with larger Pyrogel product sales, and implementation of initiatives to offset higher raw material costs. Total operating expenses for 2Q19 were $8.7M compared to our expectations of $9.9M, and $9.7M in 1Q19. The lower operating expenses for the quarter were attributed to reduced incentive compensation. Net loss for the quarter was $5.3M, or $0.22 per share, compared to a net loss of $7.0M, or $0.29 per share in 2Q18. The company ended the quarter with $3.3M in cash and $2.9M in debt. 2019 guidance.”
According to TipRanks.com, Dayal is a 4-star analyst with an average return of 4.4% and a 45.1% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.
Currently, the analyst consensus on Aspen Aerogels is a Moderate Buy with an average price target of $10.
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The company has a one-year high of $7.50 and a one-year low of $1.60. Currently, Aspen Aerogels has an average volume of 69.95K.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ASPN in relation to earlier this year.
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Aspen Aerogels, Inc. engages in designing, developing, and manufacturing aerogel insulation used primarily in the energy infrastructure and building materials markets. It operates through Unites States and International geographical segments. Its products include Cryogel, Pyrogel, and Spaceloft.
