Ascent Solar Technologies (ASTI) to Release Earnings on Tuesday

Ascent Solar Technologies (NASDAQ:ASTI) is expected to release its results after the market closes on Tuesday, August 11th. Analysts expect the company to post earnings of ($0.19) per share and revenue of $0.0530 million for the quarter.

Ascent Solar Technologies (NASDAQ:ASTI) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.08). 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 $0.05 million during the quarter, compared to the consensus estimate of $0.05 million. On average, analysts expect Ascent Solar Technologies to post $-1 EPS for the current fiscal year and $-0 EPS for the next fiscal year.

Ascent Solar Technologies Stock Performance

ASTI stock traded up $0.41 during trading on Tuesday, reaching $3.47. 392,801 shares of the company traded hands, compared to its average volume of 1,909,123. The business has a 50 day simple moving average of $5.14 and a 200 day simple moving average of $5.21. Ascent Solar Technologies has a 12 month low of $1.40 and a 12 month high of $9.87. The company has a market capitalization of $34.08 million, a price-to-earnings ratio of -1.41 and a beta of 1.76.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTI. Geode Capital Management LLC boosted its holdings in shares of 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 last quarter. Cetera Investment Advisers purchased a new position in shares of Ascent Solar Technologies during the 4th quarter valued at about $89,000. Jane Street Group LLC acquired a new position in shares of Ascent Solar Technologies in the 4th quarter valued at about $116,000. Finally, HRT Financial LP purchased a new stake in shares of Ascent Solar Technologies in the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 10.55% of the company’s stock.

Ascent Solar Technologies Company Profile

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).