Ascent Solar Technologies (NASDAQ:ASTI) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Ascent Solar Technologies (NASDAQ:ASTI) announced its quarterly earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.09), FiscalAI reports. Ascent Solar Technologies had a negative return on equity of 85.21% and a negative net margin of 4,217.19%. The business had revenue of $0.18 million during the quarter, compared to the consensus estimate of $0.12 million.

Ascent Solar Technologies Stock Down 1.7%

Shares of ASTI traded down $0.03 during trading hours on Friday, hitting $1.45. 211,976 shares of the stock were exchanged, compared to its average volume of 212,350. Ascent Solar Technologies has a 12-month low of $1.40 and a 12-month high of $9.87. The stock’s 50-day moving average price is $2.34 and its two-hundred day moving average price is $4.32.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASTI. HC Wainwright reiterated a “buy” rating on shares of Ascent Solar Technologies in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Ascent Solar Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ascent Solar Technologies has an average rating of “Hold” and an average price target of $20.00.

Ascent Solar Technologies Company Profile

Ascent Solar Technologies, Inc is a U.S.-based solar technology company that develops and manufactures lightweight, flexible photovoltaic products. Its modules use copper indium gallium selenide (CIGS) thin-film technology, which is designed to provide solar power in applications where conventional rigid silicon panels may be too heavy, fragile, or difficult to install.

The company focuses on specialized markets including space and aerospace, defense, portable and off-grid power, emergency response, and other infrastructure and industrial applications.