Ascent Solar Technologies (ASTI) stock rocketed higher on Thursday after the solar energy company announced a collaboration with NASA. This collaboration includes an agreement with NASA Marshall Space Flight Center and support from NASA Glenn Research Center to “advance capabilities for receiving beamed power using CIGS PV modules.”
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This collaboration will have Ascent Solar Technologies providing design and prototyping services, while NASA will offer technical subject matter expertise and test services. The two will work over 12 months to mature these technologies to reduce the “cost, complexity and risk of NASA missions.”
ASTI stock was up 151.5% in pre-market trading, following a 27.19% drop yesterday. The shares are also down 64.37% year-to-date and 88.8% over the past 12 months.
Is Ascent Solar Technologies Stock a Buy, Sell, or Hold?
Wall Street doesn’t offer significant coverage of Ascent Solar Technologies, but TipRanks’ AI analyst Spark has it covered. Spark rates ASTI stock a Neutral (43) with a $1.50 price target, representing a potential 28.76% upside for the shares. It cites “weak financial performance and unappealing valuation” as reasons for this stance.
