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

Ascent Solar Technologies (NASDAQ:ASTI) released 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 net margin of 7,311.40% and a negative return on equity of 127.37%. The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.10 million.

Ascent Solar Technologies Stock Performance

Shares of Ascent Solar Technologies stock traded up $0.36 on Friday, reaching $3.58. 759,517 shares of the company’s stock were exchanged, compared to its average volume of 419,102. The company has a market capitalization of $35.16 million, a P/E ratio of -1.46 and a beta of 1.76. Ascent Solar Technologies has a 52 week low of $1.40 and a 52 week high of $9.87. The firm’s 50-day moving average is $4.86 and its two-hundred day moving average is $5.16.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

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