Ascent Solar Technologies Inc. (NASDAQ:ASTI – Get Free Report)’s stock price dropped 5.5% during mid-day trading on Friday . The stock traded as low as $3.92 and last traded at $3.98. Approximately 223,642 shares traded hands during trading, a decline of 70% from the average session volume of 756,098 shares. The stock had previously closed at $4.21.
Wall Street Analyst Weigh In
Several equities analysts recently commented on ASTI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Ascent Solar Technologies in a research report on Monday, April 20th. Zacks Research upgraded Ascent Solar Technologies to a “hold” rating in a research report on Friday, April 24th. Finally, HC Wainwright began coverage on Ascent Solar Technologies in a report on Thursday, April 23rd. They set a “buy” rating and a $20.00 price objective 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.00.
Read Our Latest Stock Analysis on ASTI
Ascent Solar Technologies Trading Down 5.5%
Ascent Solar Technologies (NASDAQ:ASTI – Get Free Report) last released its earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $0.05 million. As a group, equities research analysts forecast that Ascent Solar Technologies Inc. will post -0.74 EPS for the current year.
Institutional Trading of Ascent Solar Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the company. HRT Financial LP bought a new position in Ascent Solar Technologies during the fourth quarter valued at approximately $208,000. MYDA Advisors LLC purchased a new stake in shares of Ascent Solar Technologies in the 4th quarter valued at $206,000. Jane Street Group LLC purchased a new stake in shares of Ascent Solar Technologies in the 4th quarter valued at $116,000. Geode Capital Management LLC grew its holdings in shares of Ascent Solar Technologies by 87.7% during the 4th quarter. Geode Capital Management LLC now owns 26,938 shares of the company’s stock valued at $111,000 after purchasing an additional 12,588 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in Ascent Solar Technologies by 14.9% in the 1st quarter. Cetera Investment Advisers now owns 25,001 shares of the company’s stock worth $99,000 after purchasing an additional 3,251 shares during the period. Hedge funds and other institutional investors own 10.55% of the company’s stock.
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).
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