Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) shares fell 1.14% to $0.0261 on Tuesday. The company has a market cap of $2.03 million at 77.73 million shares outstanding. Share prices have been trading in a 52-week range of $0.03 to $8.20, which means that price is at the lower bound.
Ascent Solar Technologies is a company that is engaged in commercializing flexible photovoltaic modules using its technology. Its manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide semiconductor material, on a plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected PV cells or PV modules, in a process known as monolithic integration.
The company also has consumer-oriented products focusing on charging devices powered by its solar modules, manufactured by affixing a thin CIGS layer to a flexible, plastic substrate using a roll-to-roll process. In its latest earnings report for the quarter ended June 30, 2016, the company reported revenue of $255K, much lower than the $2.23 million revenue recorded in the same period last year. However, total costs and operating expenses slid $1.77 million from the previous year, trimming the net loss to $7.14 million, which is still higher compared to $6.93 million from the same period a year ago.
Even so, analysts are mixed on the stock, with 10% Owner TFG Radiant Investment Group L purchasing 2,270,309 company shares. Another 10% Owner SHTARD Enterprises LTD purchased 4,000,000 shares. Ardour Capital changed its rating from Hold to Reduce while Rodman & Renshaw changed its outlook from Outperform to Perform.
Although renewable energy firms seem to be gaining traction in the past years, it could take a long while before Ascent Solar Technologies reaps profits as the company has yet to make it in the mainstream commercial market. Until then, share prices could maintain its downward trajectory.
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