Ascent Solar Technologies (NASDAQ:ASTI) Shares Down 5.5% – What’s Next?

Ascent Solar Technologies Inc. (NASDAQ:ASTI)’s share price fell 5.5% during trading on Friday . The stock traded as low as $3.92 and last traded at $3.98. 223,642 shares were traded during trading, a decline of 70% from the average daily volume of 756,098 shares. The stock had previously closed at $4.21.

Wall Street Analyst Weigh In

ASTI has been the subject of several recent research reports. HC Wainwright assumed coverage on Ascent Solar Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Ascent Solar Technologies in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of 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 issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.00.

Ascent Solar Technologies Price Performance

The stock has a market cap of $39.08 million, a price-to-earnings ratio of -1.62 and a beta of 1.75. The stock’s 50-day moving average is $5.58 and its 200 day moving average is $5.34.

Ascent Solar Technologies (NASDAQ:ASTI) last released its earnings results on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.08). Ascent Solar Technologies had a negative return on equity of 127.37% and a negative net margin of 7,311.40%.The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $0.05 million. Analysts anticipate that Ascent Solar Technologies Inc. will post -0.74 EPS for the current year.

Institutional Trading of Ascent Solar Technologies

A number of institutional investors have recently modified their holdings of ASTI. Geode Capital Management LLC grew 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 worth $111,000 after acquiring an additional 12,588 shares during the period. HRT Financial LP purchased a new position in Ascent Solar Technologies in the fourth quarter worth $208,000. Jane Street Group LLC acquired a new stake in Ascent Solar Technologies in the fourth quarter valued at $116,000. MYDA Advisors LLC acquired a new stake in Ascent Solar Technologies in the fourth quarter valued at $206,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Ascent Solar Technologies during the 4th quarter worth $89,000. 10.55% of the stock is currently owned by hedge funds and other 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).