Aspen Aerogels (ASPN)
Makes aerogel materials for EV battery barriers and energy-industrial insulation.
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Designs and manufactures high-performance aerogel materials through Thermal Barrier and Energy Industrial segments. PyroThin serves EV battery packs, while Pyrogel, Cryogel, and Spaceloft serve energy infrastructure and insulation markets across US and international markets.
Designs, develops, and manufactures high-performance aerogel materials for EV, energy-industrial, and sustainable-insulation markets. The Thermal Barrier segment centers on PyroThin, a proprietary product line used in EV battery packs, while Energy Industrial includes Pyrogel, Cryogel, and Spaceloft products for high-temperature, cryogenic, and subsea insulation needs.
Products are sold into automotive, battery, refining, petrochemical, LNG, power, and subsea applications, with installed use across US and international markets. The operating model depends on application engineering, manufacturing reliability, and qualification with large customers rather than simple materials licensing.
EV thermal-barrier demand is tied to customer production schedules and regulatory and incentive frameworks. Manufacturing availability also matters after the East Providence facility incident and the demobilized Statesboro capacity plan.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Barclays | Reiterate | Underweight | $4 | $5 | |
| Aug 7, 2026 | Roth Capital | Reiterate | Buy | $5.75 | $7.75 | |
| May 11, 2026 | Barclays | Reiterate | Underweight | $27 | $4 | |
| May 8, 2026 | Roth Capital | Target | $5.75 | |||
| Aug 11, 2025 | Barclays | Downgrade | Equal Weight | Underweight |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $151.7M · Total debt $125.1M · Total assets $392.9M · Shareholders' equity $192.5M
- Revenue
- $49.8M
- Operating income
- −$28.8M
- Net income
- −$23.3M
No dividends on record.
| Institutions175 holders · as of Mar 31, 2026 | 83.62% | 69.30M shares | |
| Insiders15 holders · as of Jun 26, 2026 | 2.01% | 1.66M shares | |
| Strategic holders1 holder · as of Feb 13, 2026 | 5.25% | 4.35M shares | |
| Otherremainder | 9.12% | 7.56M shares |
82.88M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Kim, LLCInstitution | 14.82% | 12.28M | 13Fas of Mar 31, 2026 |
Oaktop Capital Management Ii, L.P.Institution | 6.24% | 5.17M | 13Fas of Mar 31, 2026 |
BlackRock, Inc.Institution | 5.72% | 4.74M | 13Fas of Mar 31, 2026 |
Needham Investment Management LLCInstitution | 5.45% | 4.52M | 13Fas of Mar 31, 2026 |
Needham Investment Management L.L.C.Strategic | 5.25% | 4.35M | 13Gfiled Feb 13, 2026 ↗ |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 13, 2025 | Donald R. Young | director, officer: President and CEO | −56,845 | $3.23 |
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ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Aspen Aerogels | $4.92 | 0.00% | $407.8M | — | — | 2.0 | −36.1% |
| 3M | $168.68 | −0.01% | $86.95B | 30.0 | 18.2 | 3.5 | +2.5% |
| Rogers | $124.10 | −0.30% | $2.22B | 71.7 | 29.3 | 2.7 | +6.9% |
| Cabot | $82.84 | +0.01% | $4.28B | 23.1 | 12.4 | 1.2 | +6.4% |
| DuPont | $132.50 | −0.26% | $17.96B | 295.4 | 17.6 | 2.2 | −44.2% |
| Owens Corning | $136.20 | +1.44% | $10.81B | — | 12.2 | 1.1 | +0.3% |
| KULR Technology Group | $2.50 | +0.40% | $115.2M | — | — | 6.9 | −47.6% |
| Median | 50.8 | 17.6 | 2.4 | +1.4% |