Financial Flexibility Enhancement: Aspen Aerogels' amendment to its credit agreement with MidCap Financial strengthens the company's financial position by updating its covenant framework, thereby laying a foundation for future strategic execution.
Optimistic Liquidity Outlook: CFO Grant Thoele noted that the company's liquidity outlook is trending ahead of expectations, reflecting operational efficiencies and working capital improvements, showcasing strong performance in sustainability and electrification solutions.
Strategic Execution Readiness: This amendment provides Aspen with additional financial flexibility as it prepares to execute its strategy in 2026, indicating a proactive stance towards future market opportunities.
Technological Leadership: Aspen's aerogel technology addresses thermal runaway issues in the electric vehicle market, further solidifying its position as a technology leader in sustainability and electrification solutions.
ASPN
$2.94+Infinity%1D
Analyst Views on ASPN
Wall Street analysts forecast ASPN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASPN is 5.00 USD with a low forecast of 4.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
Wall Street analysts forecast ASPN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASPN is 5.00 USD with a low forecast of 4.00 USD and a high forecast of 6.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
1 Hold
1 Sell
Moderate Buy
Current: 3.080
Low
4.00
Averages
5.00
High
6.00
Current: 3.080
Low
4.00
Averages
5.00
High
6.00
Barclays
Underweight
downgrade
$6 -> $4
2025-11-07
Reason
Barclays
Price Target
$6 -> $4
2025-11-07
downgrade
Underweight
Reason
Barclays lowered the firm's price target on Aspen Aerogels to $4 from $6 and keeps an Underweight rating on the shares. The company reported a "tough" quarter with a substantial guide-down to full year numbers following General Motors' decision to cut production of electric vehicles, the analyst tells investors in a research note.
Canaccord
George Gianarikas
Buy
downgrade
$10 -> $5
2025-11-07
Reason
Canaccord
George Gianarikas
Price Target
$10 -> $5
2025-11-07
downgrade
Buy
Reason
Canaccord analyst George Gianarikas lowered the firm's price target on Aspen Aerogels to $5 from $10 and keeps a Buy rating on the shares. The firm said with a solid balance sheet and minimal capital expenditure needs, liquidity is expected to remain healthy. And looking past 2026, they expect a return to healthy levels of EBITDA with material flow through to free cash flow.
Barclays
Equal Weight -> Underweight
downgrade
$7 -> $6
2025-08-11
Reason
Barclays
Price Target
$7 -> $6
2025-08-11
downgrade
Equal Weight -> Underweight
Reason
Barclays downgraded Aspen Aerogels (ASPN) to Underweight from Equal Weight with a price target of $6, down from $7. With the the removal of the $7,500 electric vehicle tax credit to consumers, the firm expects General Motors (GM) to cut EV production and produce only 150,000 vehicles in 2027. It sees "inescapable macroeconomic forces" putting downward pressure on Aspen's fastest-growing business, its Thermal Barrier segment. Barclays cites Aspen's reliance on GM and the sensitivity of Thermal Barrier gross margins to production volumes for the downgrade.
Canaccord
Buy
downgrade
$11 -> $10
2025-08-08
Reason
Canaccord
Price Target
$11 -> $10
2025-08-08
downgrade
Buy
Reason
Canaccord lowered the firm's price target on Aspen Aerogels to $10 from $11 and keeps a Buy rating on the shares. The firm noted they reported a Q2 beat but with a downside to profitability. They believe management is taking the right steps to rightsize the business preserving marginal profitability with a cost structure that reflects the current reality. Limited capex should help the company maintain relative free cash flow neutrality in a new normal. With net cash on the balance sheet, Aspen also has the cash on hand to help weather the storm.
About ASPN
Aspen Aerogels, Inc. is an aerogel technology company, which provides sustainability and electrification solutions. Its aerogel technology enables its customers and partners to achieve their own objectives around the global megatrends of resource efficiency, e-mobility and clean energy. Its segments include Energy Industrial and Thermal Barrier. Under the Energy Industrial, it designs, develops and manufactures aerogel insulation used in the energy industrial and sustainable insulation markets. It offers two aerogel insulation product lines for the energy industrial market, Pyrogel and Cryogel. Under the Thermal Barrier, it offers PyroThin product, is an ultra-thin, lightweight and flexible thermal barrier designed with other functional layers to impede the propagation of thermal runaway across multiple lithium-ion battery system architectures. Its thermal barrier technology is designed to offer a combination of thermal management, mechanical performance and fire protection properties.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
