Ascent Solar Technologies (ASTI) AI Stock Analysis

• Market Cap: $6.46M
• Dividend Yield: N/A
• Average Volume (3M): 786.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.84
• Revenue Growth: -84.54%
• EPS Growth: 98.57%
• Country: US
• Employees: 16
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -3.00
• Shares Outstanding: 3,047,658
• 10 Day Avg. Volume: 293,793
• 30 Day Avg. Volume: 786,613
• PEG Ratio: <0.01
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 68.89
• P/FCF Ratio: -0.34
• Enterprise Value/Market Cap: 0.27
• Enterprise Value/Revenue: 2.97
• Enterprise Value/Gross Profit: -4.54
• Enterprise Value/Ebitda: -0.29
• 1Y Price Target: $2.00
• Price Target Upside: -5.66% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 45 Neutral
• Price Target: $2.00 ▼(-5.66% Downside)

Ascent Solar Technologies' overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. While technical analysis provides some neutral signals, the company's financial instability and lack of profitability are significant concerns. The absence of earnings call data and corporate events further limits positive influences on the score.

Ascent Solar Technologies Business Overview & Revenue Model

Company Description

Ascent Solar Technologies, Inc. designs, manufactures, and sells copper-indium-gallium-diselenide photovoltaic products for aerospace, defense, emergency management, and consumer/OEM applications. It offers outdoor solar chargers. The company markets and sells its products through OEMs, system integrators, distributors, retailers, and e-commerce companies. Ascent Solar Technologies, Inc. was incorporated in 2005 and is based in Thornton, Colorado.

How the Company Makes Money

Ascent Solar Technologies generates revenue primarily through the sale of its photovoltaic products, including its flexible solar panels and related technologies. The company has established key partnerships with manufacturers and distributors in various industries, which help expand its market reach and drive sales. Additionally, ASTI may engage in licensing agreements for its proprietary technologies, creating another revenue stream. The company also explores opportunities in government contracts and grants focused on renewable energy initiatives, contributing to its overall earnings.

Ascent Solar Technologies Financial Statement Overview

Summary

Ascent Solar Technologies faces significant financial headwinds across its income statement, balance sheet, and cash flow. Persistent losses, high debt levels, and negative cash flows highlight the company's ongoing struggles to achieve sustainable profitability and financial stability. While there are slight improvements in equity and financing activities, the overall financial health remains weak, with a pressing need for strategic interventions to address operational inefficiencies and improve cash flow generation.

Income Statement

The income statement reveals substantial financial challenges for Ascent Solar Technologies. The company has consistently reported negative gross and net profit margins, indicating an inability to cover costs with current revenue levels. Revenue has decreased significantly over the years, with a negative growth trajectory. Additionally, EBIT and EBITDA margins are deeply negative, reflecting ongoing operational inefficiencies and high costs relative to revenue.

Balance Sheet

The balance sheet reflects a precarious financial position, with a negative equity balance in several years, signifying that liabilities far exceed assets. The debt-to-equity ratio is concerning due to negative equity, and the return on equity is negative, highlighting unprofitable operations. However, there has been some improvement in stockholders' equity in recent years, suggesting a slight positive trajectory.

Cash Flow

Cash flow analysis shows significant challenges, with consistent negative operating cash flow and free cash flow figures, indicating that the company is burning cash and heavily reliant on external financing to sustain operations. Free cash flow growth remains negative, and the operating cash flow to net income ratio suggests poor cash conversion. Financing activities provide temporary relief but do not address underlying cash flow issues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	588.25K	41.89K	458.26K	1.22M	607.78K	66.61K
Gross Profit	-384.89K	-106.48K	-1.43M	-788.67K	-1.29M	-107.97K
EBITDA	-6.04M	-7.91M	-14.13M	-16.28M	-4.21M	5.46M
Net Income	-6.89M	-9.13M	-17.07M	-19.75M	-6.92M	-4.89M
Balance Sheet
Total Assets	6.79M	7.15M	6.30M	18.68M	12.85M	7.37M
Cash, Cash Equivalents and Short-Term Investments	2.95M	3.17M	1.05M	11.48M	5.96M	167.72K
Total Debt	1.76M	2.06M	4.23M	10.08M	13.51M	19.42M
Total Liabilities	3.36M	3.77M	7.83M	14.09M	15.68M	27.56M
Stockholders Equity	3.43M	3.38M	-1.53M	4.59M	-2.83M	-20.19M
Cash Flow
Free Cash Flow	-6.94M	-8.42M	-13.41M	-10.69M	-9.68M	-2.88M
Operating Cash Flow	-6.94M	-8.42M	-9.54M	-10.51M	-9.40M	-2.88M
Investing Cash Flow	-3.36K	-421.00	-3.88M	-265.47K	-301.52K	254.44K
Financing Cash Flow	4.11M	10.55M	2.96M	16.29M	15.50M	2.80M

Ascent Solar Technologies Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASTI, the sentiment is Neutral. The current price of 2.12 is below the 20-day moving average (MA) of 2.18, above the 50-day MA of 2.12, and above the 200-day MA of 1.98, indicating a neutral trend. The MACD of 0.06 indicates Positive momentum. The RSI at 47.97 is Neutral, neither overbought nor oversold. The STOCH value of 41.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ASTI.

Ascent Solar Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FTCI	55 Neutral	$130.01M	―	-175.83%	―	-17.53%	8.53%
SPRU	49 Neutral	$49.94M	―	-47.48%	―	22.78%	-27.59%
SOL	47 Neutral	$93.41M	―	-1.27%	―	-33.44%	81.60%
ASTI	45 Neutral	$6.46M	―	-181.54%	―	-84.54%	98.57%
MAXN	41 Neutral	$59.98M	―	307.38%	―	-54.68%	63.56%
VVPR	39 Underperform	$44.19M	―	―	―	-51.35%	-103.78%

Ascent Solar Technologies Corporate Events

Ascent Solar Completes $11.88M Stock Offering

On May 16, 2024, Ascent Solar Technologies entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC to sell shares of its common stock, initially valued at up to $4,219,000. Since then, the company has increased the offering amount multiple times, with the latest increase allowing for an additional $758,818 in shares. As of August 20, 2025, Ascent has sold 1,537,783 shares for gross proceeds of approximately $11,883,824.54. The proceeds are expected to be used primarily for general and administrative expenses, with management having significant discretion over their allocation.

The most recent analyst rating on (ASTI) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Ascent Solar Technologies stock, see the ASTI Stock Forecast page.

Ascent Solar Projects Strong Sales Growth in Aerospace

On August 6, 2025, Ascent Solar Technologies released a corporate update detailing its customer pipeline and sales progress in the aerospace and space industries. The company projects sales to reach $5 million to $20 million in 2026 and $25 million to $40 million in 2027, based on current customer discussions and market opportunities. The update highlights Ascent’s competitive advantages and customer acquisition strategies, following milestones such as collaborations with NASA and agreements with various organizations in the space and defense sectors. CEO Paul Warley emphasized the company’s focus on improving efficiency and meeting the demand for durable solar solutions in space.

Ascent Solar Technologies Launches Public Offering

On June 27, 2025, Ascent Solar Technologies, Inc. announced the commencement of a public offering of 1,000,000 shares of common stock and warrants to purchase an additional 1,000,000 shares, with the offering closing on June 30, 2025. The company expects to raise approximately $1.6 million in net proceeds, which will be used for working capital, product development, and general corporate purposes. The offering is part of a strategic move to strengthen the company’s financial position and support its growth initiatives. Ascent Solar has agreed to certain restrictions on issuing additional shares or securities for a specified period, reflecting a commitment to stabilize its stock and reassure investors.

Ascent Solar Expands into Defense Sector with New Agreement

On June 26, 2025, Ascent Solar Technologies announced a Collaborative Agreement Notice with NASA’s Marshall Space Flight Center and support from NASA Glenn Research Center to advance thin-film photovoltaic power beaming capabilities using CIGS PV modules. This collaboration aims to mature commercial products for distributed space power infrastructure, potentially reducing the cost, complexity, and risk of NASA missions. On June 27, 2025, Ascent entered a Teaming Agreement to supply a US-based defense solutions provider with its solar technology for orbital applications and future missions, indicating a strategic expansion in the defense sector.