Ascent Solar Technologies (NASDAQ:ASTI) Issues Earnings Results, Hits Estimates

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

Ascent Solar Technologies Stock Up 11.2%

ASTI stock traded up $0.36 during mid-day trading on Friday, reaching $3.58. 759,517 shares of the company traded hands, compared to its average volume of 419,102. The firm’s 50 day moving average price is $4.86 and its 200 day moving average price is $5.16. The stock has a market cap of $35.16 million, a price-to-earnings ratio of -1.46 and a beta of 1.76. Ascent Solar Technologies has a fifty-two week low of $1.40 and a fifty-two week high of $9.87.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. HRT Financial LP purchased a new position in shares of Ascent Solar Technologies during the fourth quarter valued at approximately $208,000. Jane Street Group LLC purchased a new stake in Ascent Solar Technologies in the 4th quarter valued at $116,000. Geode Capital Management LLC raised its holdings in shares of Ascent Solar Technologies by 87.7% in 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 during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of Ascent Solar Technologies in the fourth quarter valued at about $89,000. Institutional investors own 10.55% of the company’s stock.

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).