Aspen Aerogels assumed at Hold from Buy at Benchmark

Benchmark analyst Subash Chandra downgraded Aspen Aerogels to Hold from Buy after assuming coverage of the stock. While the company has addressed key challenges with an equity raise, securing a loan from GM, and begining construction of a plant that "can multiply revenue capacity," revenue and margin translation has been inconsistent this year, Chandra said. The "pieces are in place to execute in 2023," added the analyst, who will reassess the firm’s rating based on performance.