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100% of Top Analysts Recommend Aspen Aerogels as Strong Buy or Buy

By Don Francis, Editor
May 15, 2024 7:02 AM UTC
100% of Top Analysts Recommend Aspen Aerogels as Strong Buy or Buy

Piper Sandler's Alexander Potter raised their price target on Aspen Aerogels (NYSE: ASPN) by 3.4% from $29 to $30 on 2024/05/14. The analyst maintained their Strong Buy rating on the stock.

Potter's decision to increase the price target was not solely based on the company's Q1 2024 earnings report, which was released two weeks prior on May 1st. Rather, Potter explained that the stock's value had significantly appreciated since the release of the earnings report. At that time, the shares were trading at approximately $15, while they are now worth about $27.

According to Potter, Aspen Aerogels' Q1 results debunked a key short thesis, leading to a short squeeze. Piper Sandler's view is that the bears had mistakenly anticipated a guidance cut, but management surprised them by raising its outlook instead.

Currently, 100% of top-rated analysts recommend Aspen Aerogels as either a Strong Buy or Buy. There are no analysts who consider it a Hold, and no analysts are recommending or strongly recommending selling the stock.

Since the release of Aspen Aerogels' latest quarterly report on May 1st, the stock price has surged by an impressive 67%. Looking at the year-over-year performance, the stock has soared by a remarkable 222.9%. During this period, Aspen Aerogels has outperformed the broader market index, with the S&P 500 showing a comparatively modest gain of 26.8%.

Alexander Potter, the Piper Sandler analyst behind the price target increase, is ranked in the top 3% of Wall Street analysts by WallStreetZen. With an average return of 38.9% and a win rate of 49.4%, Potter has proven expertise in various sectors, including Consumer Cyclical and Communication Services.

Aspen Aerogels, Inc. is a company that specializes in manufacturing aerogel insulation products. These products find applications in the energy infrastructure and building materials markets, both domestically in the U.S. and internationally. The company's product portfolio includes PyroThin thermal barriers used in lithium-ion batteries for electric vehicles and energy storage industries, as well as Pyrogel XTE, which reduces the risk of corrosion under insulation in energy infrastructure systems. Additionally, Aspen Aerogels offers Spaceloft Grey and Spaceloft A2 for the building materials market, while Cryogel X201 is used in cold systems. Established in 2001, the company is headquartered in Northborough, MA.

What is the target price for Aspen Aerogels?

WallStreetZen tracks the performance of nearly 4,000 Wall Street analysts, whom we rank by average returns, frequency, and win-rate (backtested over multiple years).

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