Ascent Solar Technologies (NASDAQ:ASTI) Announces Quarterly Earnings Results

Ascent Solar Technologies (NASDAQ:ASTI) released its quarterly earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.19), FiscalAI reports. The firm had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.10 million. Ascent Solar Technologies had a negative return on equity of 127.37% and a negative net margin of 7,311.40%.

Ascent Solar Technologies Stock Up 11.2%

Shares of NASDAQ ASTI traded up $0.36 during trading hours on Friday, hitting $3.58. The company had a trading volume of 759,517 shares, compared to its average volume of 419,102. Ascent Solar Technologies has a 1-year low of $1.40 and a 1-year high of $9.87. The firm’s 50 day moving average is $4.86 and its 200-day moving average is $5.16. The stock has a market capitalization of $35.16 million, a P/E ratio of -1.46 and a beta of 1.76.

Analyst Ratings Changes

A number of analysts have recently issued reports on ASTI shares. Zacks Research upgraded shares of Ascent Solar Technologies to a “hold” rating in a report on Friday, April 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Ascent Solar Technologies in a research note on Friday, July 17th. Finally, HC Wainwright assumed coverage on Ascent Solar Technologies in a report on Thursday, April 23rd. They issued a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of Ascent Solar Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASTI. Cetera Investment Advisers bought a new position in shares of Ascent Solar Technologies in the 4th quarter valued at about $89,000. Geode Capital Management LLC raised its holdings in shares of Ascent Solar Technologies by 87.7% in the 4th 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 during the period. Jane Street Group LLC bought a new stake in shares of Ascent Solar Technologies in the 4th quarter valued at about $116,000. Finally, HRT Financial LP acquired a new stake in Ascent Solar Technologies in the 4th quarter valued at about $208,000. 10.55% of the stock is owned by institutional investors.

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).