Ascent Solar Technologies (NASDAQ:ASTI) Shares Down 8.8% – Here’s What Happened

Ascent Solar Technologies Inc. (NASDAQ:ASTI) shares traded down 8.8% during mid-day trading on Wednesday . The company traded as low as $6.08 and last traded at $6.19. 1,063,092 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,094,668 shares. The stock had previously closed at $6.79.

Analyst Ratings Changes

A number of research analysts have recently commented on ASTI shares. Zacks Research upgraded Ascent Solar Technologies to a “hold” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ascent Solar Technologies in a research report on Monday, April 20th. Finally, HC Wainwright assumed coverage on shares of Ascent Solar Technologies in a research note on Thursday, April 23rd. They set a “buy” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Ascent Solar Technologies has an average rating of “Hold” and a consensus target price of $20.00.

Ascent Solar Technologies Stock Down 8.8%

The firm has a market capitalization of $58.56 million, a price-to-earnings ratio of -2.52 and a beta of 1.69. The business has a 50-day moving average of $5.53 and a two-hundred day moving average of $5.09.

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 firm had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.05 million. Equities analysts predict that Ascent Solar Technologies Inc. will post -0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. HRT Financial LP bought a new position in Ascent Solar Technologies in the fourth quarter worth $208,000. Jane Street Group LLC bought a new stake in Ascent Solar Technologies in the 4th quarter valued at $116,000. Geode Capital Management LLC raised its stake 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 buying an additional 12,588 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of Ascent Solar Technologies in the 4th quarter valued at $89,000. Finally, MYDA Advisors LLC bought a new position in shares of Ascent Solar Technologies during the 4th quarter worth about $206,000. 10.55% of the stock is currently owned by institutional investors and hedge funds.

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).