Aspen Aerogels Issues Business Update, Joins Plug Power, SunPower And Other Big Stocks Moving Lower On Thursday

U.S. stocks traded lower, with the Dow Jones index falling over 150 points on Thursday.

Shares of Aspen Aerogels, Inc. ASPN fell sharply during Thursday’s session after the company issued a business update.

Aspen Aerogels clocked preliminary fourth-quarter revenue of $84 million. The company sees FY24 baseline revenue of $350 million with upside potential as EV production accelerates.

Aspen Aerogels shares dipped 12.2% to $12.61 on Thursday.

Here are some other big stocks recording losses in today’s session.

• Office Properties Income Trust OPI shares tumbled 36% to $3.9650 after the company reduced its quarterly dividend to $0.01 per share.
• Richardson Electronics, Ltd. RELL dipped 20.7% to $9.91 after the company posted weaker-than-expected results for its second quarter.
• Sana Biotechnology, Inc. SANA declined 15.8% to $6.04.
• GigaCloud Technology Inc. GCT fell 15.7% to $18.29.
• Applied Optoelectronics, Inc. AAOI fell 15.2% to $18.32.
• E2open Parent Holdings, Inc. ETWO dropped 14.8% to $3.55.
• MoneyLion Inc. ML fell 12.8% to $51.76.
• Pacific Biosciences of California, Inc. PACB fell 9.5% to $7.20. PacBio recently announced preliminary Q4 and FY23 revenue results.
• Roadzen, Inc. RDZN shares declined 9.1% to $4.52 after jumping 9% on Wednesday. Roadzen recently appointed Jean-Noël Gallardo as CFO.
• Plug Power Inc. PLUG fell 8.4% to $3.69. Susquehanna analyst Biju Perincheril downgraded Plug Power from Positive to Neutral.
• SunPower Corporation SPWR dipped 8.3% to $3.5650. Susquehanna analyst Biju Perincheril downgraded SunPower from Positive to Neutral and announced a $4 price target.
• Amarin Corporation plc AMRN fell 8.1% to $1.1850.
• Upstart Holdings, Inc. UPST declined 7.2% to $33.00. Upstart CFO Sanjay Datta sold a total of 1,000 shares at an average price of $34.14.
• Weibo Corporation WB fell 7.2% to $8.86. B of A Securities analyst Miranda Zhuang downgraded Weibo from Buy to Underperform and announced a $10 price target.
• Cytokinetics, Incorporated CYTK declined 6.7% to $94.83.
• C3.ai, Inc. AI fell 6.2% to $26.76.
• Hertz Global Holdings, Inc. HTZ fell 6.1% to $8.78.
• Unity Software Inc. U fell 6% to $34.90.

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