Ascent Solar Technologies (NASDAQ:ASTI) Posts Earnings Results, Misses Estimates By $0.08 EPS

Ascent Solar Technologies (NASDAQ:ASTI) posted its quarterly earnings data on Friday. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08), FiscalAI reports. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.02 million. Ascent Solar Technologies had a negative return on equity of 261.07% and a negative net margin of 10,041.03%.

Ascent Solar Technologies Trading Up 11.3%

ASTI stock traded up $0.44 during trading on Friday, reaching $4.32. 981,204 shares of the stock were exchanged, compared to its average volume of 2,193,105. Ascent Solar Technologies has a twelve month low of $1.10 and a twelve month high of $9.87. The company has a market capitalization of $40.88 million, a P/E ratio of -1.30 and a beta of 1.45. The stock has a 50 day simple moving average of $4.93 and a 200-day simple moving average of $4.20.

Institutional Investors Weigh In On Ascent Solar Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. HRT Financial LP acquired a new stake in Ascent Solar Technologies during the fourth quarter valued at approximately $208,000. Jane Street Group LLC acquired a new stake in Ascent Solar Technologies during the fourth quarter valued at approximately $116,000. Geode Capital Management LLC boosted its holdings in Ascent Solar Technologies by 87.7% during the fourth quarter. Geode Capital Management LLC now owns 26,938 shares of the company’s stock valued at $111,000 after purchasing an additional 12,588 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in Ascent Solar Technologies during the fourth quarter valued at approximately $89,000. 10.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research upgraded Ascent Solar Technologies to a “hold” rating in a research note on Friday, April 24th. HC Wainwright assumed coverage on Ascent Solar Technologies in a research note on Thursday, April 23rd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ascent Solar Technologies in a research note on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Ascent Solar Technologies has an average rating of “Hold” and a consensus target price of $20.00.

Ascent Solar Technologies Company Profile

Ascent Solar Technologies, Inc (NASDAQ:ASTI) develops and manufactures thin-film photovoltaic modules based on copper indium gallium selenide (CIGS) semiconductor technology. Designed for lightweight, flexible and durable integration, Ascent Solar’s products are well-suited to mobile and off-grid applications where conventional rigid panels are impractical. The company’s portfolio includes both rollable and laminate modules that can be bonded onto a variety of surfaces, from textiles and curved structures to aerospace platforms.

Ascent Solar’s modules target a diverse set of end markets, including military and defense sectors, unmanned aerial vehicles (UAVs), consumer electronics, automotive and building-integrated photovoltaics (BIPV).