Will Bulls Return for Ascent Solar Technologies Inc (OTCMKTS:ASTI) Shares?


Ascent Solar Technologies Inc (OTCMKTS:ASTI) shares were flat on Tuesday at $0.00380 but were up 8.50% to $0.00412 in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $3.48 so there’s plenty of potential upside. The company has a market cap of $816,750.00.

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.

In line with this, Ascent Solar Technologies is producing consumer-oriented products focusing on charging devices powered by its solar modules. It manufactures its products by affixing a thin CIGS layer to a flexible, plastic substrate using a roll-to-roll process.

The company’s shares were previously kicked out of the NASDAQ due to inability to maintain listing requirements, but it has been able to secure new funding back in September when it completed a private placement for $1.35 million of the Company’s newly designated Series J 10% Convertible Preferred Stock. However, this has spurred concerns of dilution so share prices have been unable to rebound since.

To make things worse, Ascent Solar Technologies has reported bleak Q3 earnings figures. Total net revenue booked for the third quarter of 2016 was $453K while the company posted a net operating loss of $5.5 million, as costs continue to rise while revenues have been bleak.

“We are focused on improving our results as we head into the final period of this year. On the back of the poor second quarter showing, we are confident that the worst is behind us as we continue to streamline our business model and further execute our growth plan. Given the continuous expansion of our retail footprint, particularly with the increased penetration of our distribution effort to now more than 1,500 Verizon Wireless authorized retail stores, we remain optimistic on the opportunities ahead for growth,” mentioned Ascent Solar Technologies CEO Victor Lee back then.

Later on, the company announced that it secured a new partnership with Cellular Sales of Knoxville, which is one of the Nation’s largest Verizon Wireless Authorized Retailers to carry the EnerPlex line of mobility power products throughout their 560 stores. In addition, its thin-film solar panels were selected by the Japan Aerospace Exploration Agencyas part of their next round of evaluations for providing solar technology for an upcoming mission to Jupiter.

In another positive update for the company, analysts from Global Market Insights predicted that the thin film solar cells market will rise to 30 billion USD by 2024. Now this is still a long way off but if Ascent Solar Technologies plays its cards right, it could be well-positioned to take advantage of this industry growth.