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

Ascent Solar Technologies (NASDAQ:ASTI) posted its quarterly earnings data on Friday. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.09), FiscalAI reports. The business had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.12 million. Ascent Solar Technologies had a negative return on equity of 85.21% and a negative net margin of 4,217.19%.

Ascent Solar Technologies Stock Performance

Shares of ASTI stock traded down $0.03 on Friday, hitting $1.45. The company’s stock had a trading volume of 211,976 shares, compared to its average volume of 212,350. Ascent Solar Technologies has a fifty-two week low of $1.40 and a fifty-two week high of $9.87. The stock’s 50 day moving average is $2.34 and its 200-day moving average is $4.32. The company has a market capitalization of $14.24 million, a PE ratio of -0.98 and a beta of 1.72.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating on shares of Ascent Solar Technologies in a report on Wednesday, August 19th. Weiss Ratings downgraded Ascent Solar Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ascent Solar Technologies presently has an average rating of “Hold” and an average target price of $20.00.

About Ascent Solar Technologies

Ascent Solar Technologies, Inc is a U.S.-based solar technology company that develops and manufactures lightweight, flexible photovoltaic products. Its modules use copper indium gallium selenide (CIGS) thin-film technology, which is designed to provide solar power in applications where conventional rigid silicon panels may be too heavy, fragile, or difficult to install.

The company focuses on specialized markets including space and aerospace, defense, portable and off-grid power, emergency response, and other infrastructure and industrial applications.