Ascent Solar Technologies Inc. (NASDAQ: ASTI) stock fell -12.51% on Wednesday to $0.15 against a previous-day closing price of $0.17. With 2.27 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.14 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $0.1683 whereas the lowest price it dropped to was $0.1404. The 52-week range on ASTI shows that it touched its highest point at $18.01 and its lowest point at $0.15 during that stretch. Beta for the stock currently stands at 1.66.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASTI was down-trending over the past week, with a drop of -20.71%, but this was down by -35.74% over a month. Three-month performance dropped to -75.25% while six-month performance fell -95.18%. The stock lost -97.77% in the past year, while it has lost -91.10% so far this year.
Float and Shares Shorts:
At present, 35.57 million ASTI shares are outstanding with a float of 4.43 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.73 million, which was 1.98% higher than short shares on Mar 30, 2023. In addition to Mr. Paul P. Warley Jr. as the firm’s Chief Exec. Officer, Dr. Joseph H. Armstrong Ph.D. serves as its Founder, CTO & VP.
Through their ownership of 0.34% of ASTI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 85.22% of ASTI, in contrast to 0.87% held by mutual funds. Shares owned by individuals account for 0.21%. As the largest shareholder in ASTI with 0.47% of the stake, Renaissance Technologies LLC holds 174,700 shares worth 174,700. A second-largest stockholder of ASTI, Geode Capital Management LLC, holds 49,608 shares, controlling over 0.13% of the firm’s shares. Millennium Management LLC is the third largest shareholder in ASTI, holding 42,729 shares or 0.12% stake. With a 0.08% stake in ASTI, the Schwab US Small Cap ETF is the largest stakeholder. A total of 28,215 shares are owned by the mutual fund manager. The Fidelity Nasdaq Composite Index F, which owns about 0.06% of ASTI stock, is the second-largest Mutual Fund holder. It holds 22,041 shares valued at 5091.0. Fidelity Extended Market Index Fu holds 0.06% of the stake in ASTI, owning 20,791 shares worth 4803.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ASTI reported revenue of $637.57k and operating income of -$2.28M. The EBITDA in the recently reported quarter was -$2.09M and diluted EPS was -$0.08.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASTI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASTI analysts setting a high price target of $300,000,000.00 and a low target of $300,000,000.00, the average target price over the next 12 months is $300,000,000.00. Based on these targets, ASTI could surge 199999999900.0% to reach the target high and rise by 199999999900.0% to reach the target low. Reaching the average price target will result in a growth of 199999999900.0% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ASTI stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 7,500,000 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 4,234,591 while 8,000,296 shares were sold.