Ascent Solar Technologies (NASDAQ:ASTI) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Ascent Solar Technologies (NASDAQ:ASTI) released its quarterly earnings data 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. The firm had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.02 million. Ascent Solar Technologies had a negative net margin of 10,041.03% and a negative return on equity of 261.07%.

Ascent Solar Technologies Trading Up 11.3%

NASDAQ ASTI traded up $0.44 during trading on Friday, hitting $4.32. 981,204 shares of the company traded hands, compared to its average volume of 2,193,105. Ascent Solar Technologies has a 12 month low of $1.10 and a 12 month high of $9.87. The business has a fifty day simple moving average of $4.93 and a 200 day simple moving average of $4.20. The company has a market capitalization of $40.88 million, a P/E ratio of -1.30 and a beta of 1.45.

Analyst Ratings Changes

A number of research firms recently issued reports on ASTI. Weiss Ratings reissued a “sell (e+)” rating on shares of Ascent Solar Technologies in a research report on Monday, April 20th. HC Wainwright began coverage on Ascent Solar Technologies in a research report on Thursday, April 23rd. They set a “buy” rating and a $20.00 price objective for the company. Finally, Zacks Research raised Ascent Solar Technologies to a “hold” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Hedge Funds Weigh In On Ascent Solar Technologies

Several institutional investors have recently bought and sold shares of ASTI. HRT Financial LP bought a new position in Ascent Solar Technologies during the fourth quarter valued at about $208,000. Jane Street Group LLC bought a new position in Ascent Solar Technologies during the fourth quarter valued at about $116,000. Cetera Investment Advisers bought a new position in Ascent Solar Technologies during the fourth quarter valued at about $89,000. Finally, Geode Capital Management LLC raised its holdings 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 valued at $111,000 after buying an additional 12,588 shares in the last quarter. 10.55% of the stock is currently owned by 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).