Ascent Solar Technologies (NASDAQ:ASTI) Announces Earnings Results, Hits Estimates

Ascent Solar Technologies (NASDAQ:ASTI) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share 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 business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.10 million.

Ascent Solar Technologies Price Performance

Shares of NASDAQ ASTI traded up $0.36 during mid-day trading on Friday, hitting $3.58. 759,517 shares of the stock traded hands, compared to its average volume of 419,102. The company has a market cap of $35.16 million, a PE ratio of -1.46 and a beta of 1.76. Ascent Solar Technologies has a twelve month low of $1.40 and a twelve month high of $9.87. The firm has a 50 day simple moving average of $4.86 and a two-hundred day simple moving average of $5.16.

Institutional Investors Weigh In On Ascent Solar Technologies

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Ascent Solar Technologies by 87.7% in the 4th quarter. Geode Capital Management LLC now owns 26,938 shares of the company’s stock valued at $111,000 after acquiring an additional 12,588 shares during the period. Cetera Investment Advisers acquired a new stake in Ascent Solar Technologies in the fourth quarter valued at $89,000. Jane Street Group LLC acquired a new position in Ascent Solar Technologies during the 4th quarter worth about $116,000. Finally, HRT Financial LP bought a new position in shares of Ascent Solar Technologies during the fourth quarter worth about $208,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ASTI has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ascent Solar Technologies in a research report on Friday, July 17th. Zacks Research raised Ascent Solar Technologies to a “hold” rating in a report on Friday, April 24th. Finally, HC Wainwright assumed coverage on Ascent Solar Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ascent Solar Technologies has a consensus rating of “Hold” and an average price target 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).