Ascent Solar Technologies (NASDAQ:ASTI) Posts Earnings Results, Meets Estimates

Ascent Solar Technologies (NASDAQ:ASTI) issued its 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. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations 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 Price Performance

Shares of NASDAQ ASTI traded up $0.36 during mid-day trading on Friday, hitting $3.58. 759,517 shares of the company’s stock traded hands, 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 company’s 50-day moving average is $4.86 and its two-hundred day moving average is $5.16. The company has a market capitalization of $35.16 million, a P/E ratio of -1.46 and a beta of 1.76.

Institutional Investors Weigh In On Ascent Solar Technologies

Several large investors have recently added to or reduced their stakes in the stock. HRT Financial LP bought a new stake in shares of Ascent Solar Technologies in the 4th quarter valued at approximately $208,000. Jane Street Group LLC bought a new position in shares of Ascent Solar Technologies during the 4th quarter valued at approximately $116,000. Cetera Investment Advisers bought a new position in shares of Ascent Solar Technologies during the 4th quarter valued at approximately $89,000. Finally, Geode Capital Management LLC lifted 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 worth $111,000 after acquiring an additional 12,588 shares during the last quarter. 10.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Ascent Solar Technologies

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).