HC Wainwright Begins Coverage on Ascent Solar Technologies (NASDAQ:ASTI)

Equities research analysts at HC Wainwright assumed coverage on shares of Ascent Solar Technologies (NASDAQ:ASTI) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 320.17% from the company’s previous close.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Ascent Solar Technologies in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.00.

Ascent Solar Technologies Price Performance

Shares of NASDAQ:ASTI opened at $4.76 on Thursday. The company has a market capitalization of $45.03 million, a price-to-earnings ratio of -1.43 and a beta of 1.28. The business’s 50-day moving average is $5.17 and its 200-day moving average is $4.08. Ascent Solar Technologies has a 1 year low of $1.10 and a 1 year high of $9.87.

Ascent Solar Technologies (NASDAQ:ASTI) last announced its quarterly earnings data on Friday, March 20th. The company reported ($0.40) earnings per share (EPS) for the quarter. The business had revenue of $0.02 million during the quarter. Ascent Solar Technologies had a negative net margin of 10,041.03% and a negative return on equity of 261.07%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Founders Financial Securities LLC acquired a new position in Ascent Solar Technologies during the 3rd quarter worth approximately $34,000. Cetera Investment Advisers acquired a new position in Ascent Solar Technologies during the 4th quarter worth approximately $89,000. Geode Capital Management LLC raised its stake in Ascent Solar Technologies by 87.7% during the 4th quarter. Geode Capital Management LLC now owns 26,938 shares of the company’s stock worth $111,000 after buying an additional 12,588 shares during the period. Jane Street Group LLC acquired a new position in Ascent Solar Technologies during the 4th quarter worth approximately $116,000. Finally, MYDA Advisors LLC acquired a new position in Ascent Solar Technologies during the 4th quarter worth approximately $206,000. 10.55% of the stock is 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).