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

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

Ascent Solar Technologies Price Performance

Shares of Ascent Solar Technologies stock traded down $0.03 during trading hours on Friday, hitting $1.45. 211,976 shares of the company’s stock traded hands, 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 company has a fifty day simple moving average of $2.34 and a 200-day simple moving average of $4.32. The stock has a market capitalization of $14.24 million, a price-to-earnings ratio of -0.98 and a beta of 1.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ASTI shares. HC Wainwright restated a “buy” rating on shares of Ascent Solar Technologies in a research note 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 report on Monday, October 12th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

About Ascent Solar Technologies

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.