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Aspen Aerogels

Aspen Aerogels Inc is an aerogel technology company that designs, develops, and manufactures high-performance aerogel insulation used in the energy industrial and sustainable insulation markets. The company also conducts research and development related to aerogel technology supported by funding from several agencies of the United States of America government and other institutions in the form of research and development contracts. It is engaged in two operating segment Energy Industrial and Thermal Barrier. Geographically, it operates in the U.S. and also has a presence in other International countries. It generates the majority of its revenue from the Energy Industrial segment and the United States market. Some of its products include Pyrogel XTE; Cryogel Z; Spaceloft Subsea; and others.

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Aspen Aerogels Inc

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The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the<a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Aspen Aerogels Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>)</h3>
<ul>
<li>On Nov. 6, Aspen Aerogels reported better-than-expected third-quarter revenue results.. The company's stock fell around 31% over the past month and has a 5<a href="https://www.benzinga.com/quote/ASPN">2-week low of $10.31</a>.</li>
<li>RSI Value: 26.83&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>ASPN Price Action: Shares of Aspen Aerogels rose 0.1% to close at $14.00 on Thursday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to latest <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1">ASPN news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="897" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071409/image-239.png" alt="" class="wp-image-660788" style="width:640px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071409/image-239.png 897w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071409/image-239-300x283.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071409/image-239-768x725.png 768w" sizes="(max-width: 897px) 100vw, 897px" /></a></figure>
<h3 class="wp-block-heading">Braskem SA ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAK#NYSE">BAK</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Sept. 18, UBS upgraded the stock from Neutral to Buy and raised its price target from $7.7 to $10. The company's stock fell around 36% over the past month and<a href="https://www.benzinga.com/quote/bak"> has a 52-week</a> low of $64.98.</li>
<li>RSI Value: 18.13</li>
<li>BAK Price Action: Shares of Braskem fell 2.4% to close at $4.96 on Wednesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the trend in <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1">BAK stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="916" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071554/image-240.png" alt="" class="wp-image-660794" style="width:746px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071554/image-240.png 916w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071554/image-240-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071554/image-240-768x710.png 768w" sizes="(max-width: 916px) 100vw, 916px" /></a></figure>
<h3 class="wp-block-heading">TMC the metals company Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>)</h3>
<ul>
<li>On Nov. 14, TMC Metals posted third-quarter loss of 6 cents per share. Gerard Barron, Chairman &amp; CEO of The Metals Company commented, "This week we announced June 27, 2025, as the date for NORI to submit its exploitation application to the ISA. This decision, made in close consultation with NORI&#8217;s Sponsoring State Nauru, represents years of preparation, backed by the largest dataset ever collected on the deep sea in international waters. We&#8217;re excited to share our application with the ISA and stakeholders and recognize the responsibility that comes with submitting the world&#8217;s first application of this kind." The company's stock fell around 13% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/tmc">low of $0.80</a>.</li>
<li>RSI Value: 28.06</li>
<li>TMC Price Action: Shares of TMC the metals company fell 2.1% to close at $0.88 on Thursday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1">breakout in TMC shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="878" height="847" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071859/image-241.png" alt="" class="wp-image-660802" style="width:718px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071859/image-241.png 878w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071859/image-241-300x289.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22071859/image-241-768x741.png 768w" sizes="(max-width: 878px) 100vw, 878px" /></a></figure>
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Long Ideas

Top 3 Materials Stocks That Could Blast Off In November

WIIM

Aspen Aerogels shares are trading lower after Barclays cut its price target on the stock from $27 to $25.

Throughout the last three months, 6 analysts have evaluated Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>), offering a diverse set of opinions from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $32.67, a high estimate of $41.00, and a low estimate of $25.00. A 2.48% drop is evident in the current average compared to the previous average price target of $33.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1731427258_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive Aspen Aerogels is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Anderson</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$25.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Chip Moore</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Buy</td>
<td>$31.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Alexander Potter</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$33.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Amit Dayal</td>
<td>HC Wainwright &amp; Co.</td>
<td>Maintains</td>
<td>Buy</td>
<td>$30.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Chip Moore</td>
<td>Roth MKM</td>
<td>Maintains</td>
<td>Buy</td>
<td>$36.00</td>
<td>$36.00</td>
</tr>
<tr>
<td>Jeffrey Osborne</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$41.00</td>
<td>$36.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Aspen Aerogels. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Aspen Aerogels compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Aspen Aerogels's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of Aspen Aerogels's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ASPN/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Aspen Aerogels analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Aspen Aerogels</h2>
Aspen Aerogels Inc is an aerogel technology company that designs, develops, and manufactures high-performance aerogel insulation used in the energy industrial and sustainable insulation markets. The company also conducts research and development related to aerogel technology supported by funding from several agencies of the United States of America government and other institutions in the form of research and development contracts. It is engaged in two operating segment Energy Industrial and Thermal Barrier. Geographically, it operates in the U.S. and also has a presence in other International countries. It generates the majority of its revenue from the Energy Industrial segment and the United States market. Some of its products include Pyrogel XTE; Cryogel Z; Spaceloft Subsea; and others.
<h3>Aspen Aerogels: Financial Performance Dissected</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Aspen Aerogels's revenue growth over a period of 3 months has been noteworthy. As of 30 September, 2024, the company achieved a revenue growth rate of approximately 93.14%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Materials sector.
Net Margin: Aspen Aerogels's net margin is impressive, surpassing industry averages. With a net margin of -11.05%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Aspen Aerogels's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of -2.53%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -1.69%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Aspen Aerogels's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.4.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

The Analyst Verdict: Aspen Aerogels In The Eyes Of 6 Experts

Barclays analyst David Anderson maintains Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) with a Overweight and lowers the price target from $27 to $25.

Price Target

Barclays Maintains Overweight on Aspen Aerogels, Lowers Price Target to $25

Roth MKM analyst Chip Moore maintains Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) with a Buy and lowers the price target from $36 to $31.

Roth MKM Maintains Buy on Aspen Aerogels, Lowers Price Target to $31

Guidance

Aspen Aerogels Sees FT24 Revenue ~$450M

Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) reported quarterly losses of $(0.17) per share which missed the analyst consensus estimate of $(0.08) by 112.5 percent. The company reported quarterly sales of $117.340 million which beat the analyst consensus estimate of $109.361 million by 7.30 percent. This is a 93.14 percent increase over sales of $60.755 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Aspen Aerogels Q3 2024 GAAP EPS $(0.17) Misses $(0.08) Estimate, Sales $117.340M Beat $109.361M Estimate

Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-11-06. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Aspen Aerogels will report an earnings per share (EPS) of $-0.08.
Anticipation surrounds Aspen Aerogels's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.17, leading to a 16.0% increase in the share price the following trading session.
Here's a look at Aspen Aerogels's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.04</td>
<td>-0.11</td>
<td>-0.12</td>
<td>-0.30</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.21</td>
<td>-0.02</td>
<td>-0.01</td>
<td>-0.19</td>
</tr>
<tr>
<td>Price Change %</td>
<td>16.0%</td>
<td>56.99999999999999%</td>
<td>16.0%</td>
<td>11.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730833388_0.png" alt="eps graph" />
<h3>Performance of Aspen Aerogels Shares</h3>
Shares of Aspen Aerogels were trading at $18.25 as of November 04. Over the last 52-week period, shares are up 89.9%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Insights Shared by Analysts on Aspen Aerogels</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Aspen Aerogels.
The consensus rating for Aspen Aerogels is Buy, based on 6 analyst ratings. With an average one-year price target of $30.67, there's a potential 68.05% upside.
<h3>Comparing Ratings Among Industry Peers</h3>
The below comparison of the analyst ratings and average 1-year price targets of Ingevity, Valhi and Perimeter Solutions, three prominent players in the industry, gives insights for their relative performance expectations and market positioning.
<ul>
<li>As per analysts' assessments, Ingevity is favoring an Neutral trajectory, with an average 1-year price target of $43.5, suggesting a potential 138.36% upside.</li>
<li>As per analysts' assessments, Valhi is favoring an Underperform trajectory, with an average 1-year price target of $20.0, suggesting a potential 9.59% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for Perimeter Solutions, with an average 1-year price target of $14.5, indicating a potential 20.55% downside.</li>
</ul>
<h3>Peer Metrics Summary</h3>
The peer analysis summary outlines pivotal metrics for Ingevity, Valhi and Perimeter Solutions, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Aspen Aerogels</td>
<td>Buy</td>
<td>144.55%</td>
<td>$51.58M</td>
<td>3.33%</td>
</tr>
<tr>
<td>Ingevity</td>
<td>Neutral</td>
<td>-15.49%</td>
<td>$129.90M</td>
<td>-42.94%</td>
</tr>
<tr>
<td>Valhi</td>
<td>Underperform</td>
<td>10.37%</td>
<td>$121.30M</td>
<td>2.10%</td>
</tr>
<tr>
<td>Perimeter Solutions</td>
<td>Neutral</td>
<td>67.17%</td>
<td>$73.27M</td>
<td>2.04%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Aspen Aerogels ranks highest in Revenue Growth among its peers, showing a significant increase. In terms of Gross Profit, Aspen Aerogels is at the top with a strong performance. However, its Return on Equity is moderate compared to others. Overall, Aspen Aerogels is positioned well compared to its peers in key financial metrics.
<h3>Unveiling the Story Behind Aspen Aerogels</h3>
Aspen Aerogels Inc is an aerogel technology company that designs, develops, and manufactures high-performance aerogel insulation used in the energy industrial and sustainable insulation markets. The company also conducts research and development related to aerogel technology supported by funding from several agencies of the United States of America government and other institutions in the form of research and development contracts. It is engaged in two operating segment Energy Industrial and Thermal Barrier. Geographically, it operates in the U.S. and also has a presence in other International countries. It generates the majority of its revenue from the Energy Industrial segment and the United States market. Some of its products include Pyrogel XTE; Cryogel Z; Spaceloft Subsea; and others.
<h3>Key Indicators: Aspen Aerogels's Financial Health</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Aspen Aerogels's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 144.55% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. When compared to others in the Materials sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Aspen Aerogels's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 14.28% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Aspen Aerogels's ROE stands out, surpassing industry averages. With an impressive ROE of 3.33%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Aspen Aerogels's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.33%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.29.
<a href="https://www.benzinga.com/quote/ASPN/earnings">To track all earnings releases for Aspen Aerogels visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Aspen Aerogels's Earnings Preview

Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) has outperformed the market over the past 5 years by 13.55% on an annualized basis producing an average annual return of 27.47%. Currently, Aspen Aerogels has a market capitalization of $1.57 billion. 
Buying $1000 In ASPN: If an investor had bought $1000 of ASPN stock 5 years ago, it would be worth $3,343.19 today based on a price of $20.36 for ASPN at the time of writing.
<h3>Aspen Aerogels's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729607605_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 5 Years Ago, You Would Have $3,300 Today

Piper Sandler analyst Alexander Potter maintains Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) with a Overweight and lowers the price target from $36 to $33.

Piper Sandler Maintains Overweight on Aspen Aerogels, Lowers Price Target to $33

Aspen intends to use the net proceeds from the offering for working capital, capital expenditures and general corporate purposes.

Reported Earlier, Aspen Aerogels Prices $85M Public Offering Of 4.25M Common Shares At $20/Share

Aspen&nbsp;intends to use the net proceeds from the offering for working capital, capital expenditures and general corporate purposes.

Offerings

Aspen Aerogels  Commences Public Offering Of 4.25M Shares Of Its Common Stock

HC Wainwright &amp; Co. analyst Amit Dayal reiterates Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) with a Buy and maintains $30 price target.

Reiteration

HC Wainwright & Co. Reiterates Buy on Aspen Aerogels, Maintains $30 Price Target

Aspen Aerogels, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) shares are trading higher after the company won a conditional commitment for a proposed DOE <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41355398/aspen-aerogels-inc-receives-conditional-commitment-for-proposed-doe-loan-and-provides-q3-2024-prel" rel="noreferrer noopener">loan worth up to $670.6 million</a>.
This loan, part of the Advanced Technology Vehicles Manufacturing program, will finance the construction of Aspen&#8217;s second aerogel manufacturing facility in Register, Georgia.
Although the conditional commitment signifies the DOE&#8217;s intent to finance the project, both the DOE and Aspen Aerogels must meet specific technical, legal, environmental, and financial conditions before finalizing the loan agreement and disbursing funds.
The Register Plant will manufacture PyroThin aerogel blankets, ultrathin thermal barriers designed to prevent thermal runaway in batteries.&nbsp;&nbsp;
The plant is projected to generate $1.2 billion to $1.6 billion in initial revenue and create up to 550 construction jobs and 255 permanent positions.
Donald R. Young, Aspen&#8217;s President and CEO, said, &#8220;We believe that PyroThin, which can enable increased battery safety and performance, is a unique and differentiated product that solves an important and challenging problem.&#8221;
&#8221;We are also excited to further DOE&#8217;s mission to onshore and re-shore domestic manufacturing technologies that are critical to meeting the current federal goal of having half of all new vehicles sold in 2030 be zero-emissions vehicles.&#8221;
Outlook: Additionally, the company announced preliminary results for the third quarter of 2024.
The company expects quarterly revenue of approximately $117 million (vs. consensus of $95.5 million) and a net loss of around $13 million, which includes a one-time charge of $27.5 million related to the extinguishment <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">of its convertible note on August 19, 2024</a>.
The company sees adjusted EBITDA of approximately $25 million. As of September 30, the company held about $113 million in cash and cash equivalents.
Aspen plans to report third-quarter results <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">on November 7, 2024</a>.
Price Action: ASPN shares are up 13.1% at $25.38 at the last check Wednesday.
Image via Shutterstock
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Why Aspen Aerogels Shares Are Seeing Blue Skies On Wednesday

Aspen Aerogels shares are trading higher after the company announced it won a conditional commitment for a proposed DOE loan worth up to $670.6 million. Also,  the company said it expects its second plant to provide between $1.2 to $1.6 billion in revenue.

U.S. stocks were mixed, with the Dow Jones index gaining around 100 points on Wednesday.
Shares of United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose sharply during Tuesday's session following <a href="https://www.benzinga.com/news/earnings/24/10/41345371/united-airlines-q3-earnings-revenue-beat-eps-beat-1-5b-buyback-clear-inflection-point">better-than-expected quarterly earnings.</a>
United Airlines reported third-quarter revenue of $14.843 billion, beating the consensus estimate of $14.783 billion, according to Benzinga Pro. The airline company reported adjusted earnings of $3.33 per share, beating analyst estimates of $3.13 per share.
United Airlines gained 9.3% to $70.04 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Korro Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KRRO#NASDAQ">KRRO</a>) gained 80% to $71.72.</li>
<li>Wave Life Sciences Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WVE#NASDAQ">WVE</a>) jumped 62.5% to $13.91. Wave Life Sciences achieved first-ever therapeutic RNA editing in humans with results from RestorAATion-2 trial of WVE-006 for Alpha-1 Antitrypsin Deficiency.</li>
<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) gained 21% to $14.20. The DOE approved the company&#8217;s conceptual safety design report for its Aurora fuel fabrication facility. This will advance plans to utilize recovered material for its first commercial powerhouse.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) rose 18.1% to $16.09.</li>
<li>Altus Power, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMPS#NYSE">AMPS</a>) gained 18% to $3.5645 after the company announced that a formal review of strategic alternatives has been underway by its Board of Directors. Also, the company reaffirmed its FY24 guidance.</li>
<li>Centrus Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEU#NYSE">LEU</a>) jumped 15.8% to $71.00.</li>
<li>Lithium Americas Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) gained 14.8% to $3.0689 after the company announced it entered into a new investment agreement with General Motors Holdings to establish a joint venture for the purpose of funding, developing, constructing and operating Thacker Pass in Humboldt County, Nevada.</li>
<li>Aspen Aerogels, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NASDAQ">ASPN</a>) surged 14.1% to $25.61. Aspen Aerogells won conditional commitment for proposed DOE loan of up to $670.6 million.</li>
<li>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) gained 7.6% to $19.05.</li>
<li>Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) rose 6.9% to $119.92 after the company reported better-than-expected third-quarter financial results.</li>
<li>U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) gained 5.2% to $49.44 following upbeat quarterly earnings.</li>
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Proposed loan of up to $670.6 million would fund the remaining CAPEX needed to complete Company's second aerogel plant Interest rate at applicable U.S. Treasury Rate at the time of each cash draw Plant is expected to provide ~$1.2B - $1.6B of incremental&nbsp;PyroThin&#xAE; thermal barrier revenue capacity Project financing structure, with Aspen&nbsp;Aerogels, Inc.'s subsidiary Aspen Georgia, LLC as the borrower
Q3 2024 revenue of $117 million drove $25 million of Adjusted EBITD

Aspen Aerogels Says Second Plant Expected To Provide ~$1.2B-$1.6B In Revenue

Aspen Aerogells Wins Conditional Commitment For Proposed DOE Loan Of Up To $670.6M

Aspen Aerogels's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) short percent of float has risen 8.66% since its last report. The company recently reported that it has 5.99 million shares sold short, which is 10.66% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.7 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Aspen Aerogels Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727790314_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Aspen Aerogels has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Aspen Aerogels's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Aspen Aerogels's peer group average for short interest as a percentage of float is 3.13%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

How Is The Market Feeling About Aspen Aerogels?

Roth MKM analyst Chip Moore reiterates Aspen Aerogels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASPN#NYSE">ASPN</a>) with a Buy and maintains $36 price target.

Roth MKM Reiterates Buy on Aspen Aerogels, Maintains $36 Price Target

In a report released today, Subash Chandra from Benchmark Co. maintained a Buy rating on Aspen Aerogels (ASPN – Research Report), with a price targ...

Benchmark Co. Keeps Their Buy Rating on Aspen Aerogels (ASPN)

Seaport Research lowered the firm's price target on Aspen Aerogels (ASPN) to $32 from $38 and keeps a Buy rating on the shares. Based on the result...

Aspen Aerogels price target lowered to $32 from $38 at Seaport Research

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Aspen Aerogels: Despite Recent Pressure, This Is Intriguing

Craig-Hallum analyst Eric Stine maintained a Buy rating on Aspen Aerogels (ASPN – Research Report) today. The company's shares closed yesterday at ...

Craig-Hallum Sticks to Its Buy Rating for Aspen Aerogels (ASPN)

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Aspen Aerogels: Thermal Barriers Could Sustain Further Growth Despite A Chilly Market

Bearish flow noted in Aspen Aerogels (ASPN) with 1,633 puts trading, or 4x expected. Most active are Dec-24 14 puts and 12/6 weekly 15 puts, with t...

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Aspen Aerogels: There Are Reasons To Be Careful But It's So Cheap

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Press Releases

Aspen Aerogels, Inc. Schedules Second Quarter 2024 Earnings Release and Conference Call

Gateway Group Announces Preliminary Sponsors and Additional Presenting Companies for September Gateway Conference

Aspen Aerogels, Inc. Reports Second Quarter 2024 Financial Results and Recent Business Highlights

Aspen Aerogels, Inc. Announces New Appointment to its Board of Directors

Aspen Aerogels, Inc. Announces $125 Million Term Loan and $100 Million Revolving Credit Facility with MidCap Financial, and Full Cash Redemption of Legacy Convertible Note

Aspen Aerogels, Inc. Receives Conditional Commitment for Proposed DOE Loan and Provides Q3 2024 Preliminary Financial Results

ASPEN AEROGELS, INC. ANNOUNCES PUBLIC OFFERING OF 4,250,000 SHARES OF COMMON STOCK

ASPEN AEROGELS, INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF 4,250,000 SHARES OF COMMON STOCK

Aspen Aerogels, Inc. Reports Third Quarter 2024 Financial Results and Recent Business Highlights

Aspen Aerogels, Inc. to Present at the Barclays 15th Annual Global Automotive and Mobility Tech Conference

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