Small Cap Gainers: ASTS, VTNR, ASPN
3:15 pm Wednesday, June 30th, 2021
AST SpaceMobile Inc (NASDAQ: ASTS) soared 38% to $14.10 after being initiated with a Buy and a $35 price target at Deutsche Bank, which notes that it could see the stock’s intrinsic value ultimately exceeding its price target should management execute on its plan through coming years, provided its technological solutions work as designed.
Analyst Bryan Kraft commented, “We are initiating coverage of AST SpaceMobile with a Buy rating and a $35 price target, which represents more than 3x the current stock price. Our PT is based on an average of four model scenarios, and implies EV/EBITDA multiples of 20x 2024E and 6x 2025E. If management executes on plan over the next 4-5 years, we see intrinsic value ultimately being significantly higher than our $35 PT reflects.
Vertex Energy Inc (NASDAQ: VTNR) jumps to multi-year highs after the company announced an agreement to divest certain assets related to its used motor oil collection and re-refinery business, including re-refineries in Columbus, Ohio and Marrero, Louisiana, to Clean Harbors (CLH) for $140 million in cash. Co intends to redeploy capital into energy transition assets of scale. The stock is now up by 34% to $13.80.
Aspen Aerogels Inc (NYSE: ASPN) went up 12% to $29.70 after the company announced that it entered into a securities purchase agreement to sell $75 million of common stock to an affiliate of Koch Strategic Platforms; co expects the investment to support its growth and allow it to address additional high-value applications in ESG driven markets. Reaches new highs.
