Ascent Solar Technologies (NASDAQ:ASTI) Releases Earnings Results

Ascent Solar Technologies (NASDAQ:ASTI) posted its quarterly earnings results on Friday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.08), FiscalAI reports. Ascent Solar Technologies had a negative return on equity of 261.07% and a negative net margin of 10,041.03%.The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.02 million.

Ascent Solar Technologies Stock Up 11.3%

Shares of ASTI traded up $0.44 during mid-day trading on Friday, reaching $4.32. The company’s stock had a trading volume of 982,594 shares, compared to its average volume of 2,193,249. Ascent Solar Technologies has a 1 year low of $1.10 and a 1 year high of $9.87. The company has a market cap of $40.88 million, a price-to-earnings ratio of -1.30 and a beta of 1.45. The business has a fifty day moving average of $4.93 and a 200 day moving average of $4.20.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ascent Solar Technologies in a research note on Monday, April 20th. 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. Finally, Zacks Research upgraded Ascent Solar Technologies to a “hold” rating in a research report on Friday, April 24th. One 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.00.

Institutional Trading of Ascent Solar Technologies

A number of hedge funds have recently made changes to their positions in ASTI. Cetera Investment Advisers purchased a new position in shares of Ascent Solar Technologies during the 4th quarter valued at $89,000. Geode Capital Management LLC lifted its position in Ascent Solar Technologies by 87.7% during 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. Jane Street Group LLC acquired a new position in shares of Ascent Solar Technologies during the fourth quarter worth approximately $116,000. Finally, HRT Financial LP bought a new stake in shares of Ascent Solar Technologies in the fourth quarter valued at about $208,000. 10.55% of the stock is owned by hedge funds and other institutional investors.

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).