Ascent Solar Technologies (NASDAQ:ASTI – Get Free Report) announced its earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09), FiscalAI reports. The business had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.12 million. Ascent Solar Technologies had a negative return on equity of 85.21% and a negative net margin of 4,217.19%.
Ascent Solar Technologies Price Performance
Shares of Ascent Solar Technologies stock opened at $1.45 on Friday. The stock’s 50 day simple moving average is $2.34 and its 200-day simple moving average is $4.32. The stock has a market cap of $14.24 million, a P/E ratio of -1.25 and a beta of 1.72. Ascent Solar Technologies has a 1-year low of $1.40 and a 1-year high of $9.87.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ASTI. HC Wainwright reiterated a “buy” rating on shares of Ascent Solar Technologies in a research report on Wednesday, August 19th. Weiss Ratings cut Ascent Solar Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.00.
About Ascent Solar Technologies
Ascent Solar Technologies, Inc is a U.S.-based solar technology company that develops and manufactures lightweight, flexible photovoltaic products. Its modules use copper indium gallium selenide (CIGS) thin-film technology, which is designed to provide solar power in applications where conventional rigid silicon panels may be too heavy, fragile, or difficult to install.
The company focuses on specialized markets including space and aerospace, defense, portable and off-grid power, emergency response, and other infrastructure and industrial applications.
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