Ascent Solar Technologies (NASDAQ:ASTI) Coverage Initiated at HC Wainwright

Equities researchers at HC Wainwright started coverage on shares of Ascent Solar Technologies (NASDAQ:ASTI) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 302.41% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Ascent Solar Technologies in a report on Monday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Ascent Solar Technologies has an average rating of “Hold” and an average target price of $20.00.

Ascent Solar Technologies Price Performance

Shares of ASTI stock opened at $4.97 on Thursday. The business’s 50 day simple moving average is $5.22 and its 200 day simple moving average is $4.05. Ascent Solar Technologies has a one year low of $1.10 and a one year high of $9.87. The stock has a market capitalization of $47.03 million, a PE ratio of -1.50 and a beta of 1.28.

Ascent Solar Technologies (NASDAQ:ASTI) last announced its earnings results on Friday, March 20th. The company reported ($0.40) EPS for the quarter. Ascent Solar Technologies had a negative net margin of 10,041.03% and a negative return on equity of 261.07%. The company had revenue of $0.02 million during the quarter.

Hedge Funds Weigh In On Ascent Solar Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in 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 buying an additional 12,588 shares during the period. Founders Financial Securities LLC acquired a new position in Ascent Solar Technologies in the third quarter valued at approximately $34,000. Cetera Investment Advisers acquired a new position in Ascent Solar Technologies in the fourth quarter valued at approximately $89,000. Jane Street Group LLC acquired a new position in Ascent Solar Technologies in the fourth quarter valued at approximately $116,000. Finally, MYDA Advisors LLC acquired a new position in Ascent Solar Technologies in the fourth quarter valued at approximately $206,000. 10.55% of the stock is owned by institutional investors and hedge funds.

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).