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

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

Ascent Solar Technologies Price Performance

ASTI stock opened at $4.32 on Friday. The company has a market cap of $40.87 million, a P/E ratio of -1.76 and a beta of 1.45. Ascent Solar Technologies has a 1 year low of $1.10 and a 1 year high of $9.87. The stock’s fifty day moving average price is $4.93 and its 200-day moving average price is $4.20.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Ascent Solar Technologies

A number of institutional investors have recently bought and sold shares of ASTI. Geode Capital Management LLC raised its holdings in Ascent Solar Technologies by 87.7% in the 4th quarter. Geode Capital Management LLC now owns 26,938 shares of the company’s stock worth $111,000 after purchasing an additional 12,588 shares during the period. HRT Financial LP purchased a new stake in Ascent Solar Technologies during the 4th quarter valued at approximately $208,000. Jane Street Group LLC bought a new stake in shares of Ascent Solar Technologies in the fourth quarter worth about $116,000. Finally, Cetera Investment Advisers bought a new stake in shares of Ascent Solar Technologies in the fourth quarter worth about $89,000. 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).