Ascent Solar Technologies (ASTI) AI Stock Analysis

• Market Cap: $14.72M
• Dividend Yield: N/A
• Average Volume (3M): 786.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.90
• Revenue Growth: 36.85%
• EPS Growth: 98.78%
• Country: US
• Employees: 16
• Sector: Technology
• Sector Strength: 88
• Industry: Solar
• EPS (TTM): -3.00
• Shares Outstanding: 3,479,156
• 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: 0.12
• Enterprise Value/Revenue: 28.56
• Enterprise Value/Gross Profit: -2.62
• Enterprise Value/Ebitda: -0.26
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 55 Neutral
• Price Target: $4.50 ▲(6.38% Upside)

The overall stock score of 55 reflects a mixed outlook for Ascent Solar Technologies. The company's financial performance is the most significant factor, with persistent losses and negative cash flows weighing heavily on the score. However, strong technical indicators suggest bullish momentum, providing a counterbalance. The recent corporate event of raising funds through a private placement is a positive development, enhancing financial flexibility. Despite these positives, the negative valuation metrics underscore the high-risk nature of the investment.

Positive Factors

Revenue Growth

The company's strong revenue growth rate indicates increasing demand for its products, suggesting effective market penetration and potential for future expansion.

Financial Flexibility

The recent capital raise enhances financial flexibility, providing additional resources for working capital and potential strategic initiatives.

Product Innovation

Ascent Solar's focus on innovative, flexible solar technologies positions it well in niche markets like aerospace and military, offering competitive advantages.

Negative Factors

Negative Cash Flow

Persistent negative cash flow indicates reliance on external financing, which could limit long-term operational sustainability and financial health.

High Debt Levels

High debt levels relative to equity suggest financial strain, potentially impacting the company's ability to invest in growth and innovation.

Operational Inefficiencies

Ongoing operational inefficiencies, reflected in negative margins, highlight challenges in achieving cost-effective production and sustainable profitability.

Ascent Solar Technologies Business Overview & Revenue Model

Company Description

Ascent Solar Technologies, Inc. (ASTI) is a leading manufacturer of innovative photovoltaic (PV) solar panels and related technologies. Specializing in lightweight, flexible solar solutions, the company primarily operates in the renewable energy sector, targeting applications in consumer electronics, aerospace, and military markets. ASTI's core products include its CIGS (Copper Indium Gallium Selenide) solar cells, which are designed to meet the growing demand for efficient and versatile energy solutions.

How the Company Makes Money

Ascent Solar Technologies generates revenue through the sale of its photovoltaic solar panels and related technologies. The company primarily focuses on B2B sales to various sectors, including defense, aerospace, and consumer electronics, where their flexible and lightweight solar solutions are in high demand. Key revenue streams include direct sales of solar products to manufacturers and partnerships with companies that integrate ASTI's technology into their products. Additionally, ASTI may generate income through licensing agreements and collaborations with other firms in the renewable energy space, leveraging its proprietary technology to expand its market reach and create additional revenue opportunities.

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	61.13K	41.89K	458.26K	1.22M	607.78K	66.61K
Gross Profit	-665.43K	-106.48K	-1.43M	-788.67K	-1.29M	-107.97K
EBITDA	-6.83M	-7.91M	-14.13M	-16.28M	-4.21M	5.46M
Net Income	-7.22M	-9.13M	-17.07M	-19.75M	-6.00M	1.62M
Balance Sheet
Total Assets	5.77M	7.15M	6.91M	18.68M	12.85M	7.37M
Cash, Cash Equivalents and Short-Term Investments	2.09M	3.17M	1.05M	11.48M	5.96M	167.72K
Total Debt	1.62M	2.06M	4.23M	10.08M	14.15M	19.42M
Total Liabilities	3.12M	3.77M	8.44M	14.09M	15.68M	27.56M
Stockholders Equity	2.65M	3.38M	-1.53M	4.59M	-2.83M	-20.19M
Cash Flow
Free Cash Flow	-6.68M	-8.42M	-13.41M	-10.69M	-9.68M	-2.88M
Operating Cash Flow	-6.65M	-8.42M	-9.54M	-10.51M	-9.40M	-2.88M
Investing Cash Flow	-107.02K	-421.00	-3.88M	-265.47K	-301.52K	254.44K
Financing Cash Flow	5.13M	10.55M	2.96M	16.29M	15.50M	2.80M

Ascent Solar Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASTI, the sentiment is Positive. The current price of 4.23 is above the 20-day moving average (MA) of 2.41, above the 50-day MA of 2.14, and above the 200-day MA of 1.93, indicating a bullish trend. The MACD of 0.51 indicates Negative momentum. The RSI at 70.54 is Negative, neither overbought nor oversold. The STOCH value of 59.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASTI.

Ascent Solar Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SPRU	62 Neutral	$92.30M	-3.70	-18.23%	―	37.59%	72.94%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ASTI	55 Neutral	$14.72M	-1.08	-241.51%	―	36.85%	98.78%
TURB	54 Neutral	$10.03M	-4.91	-99.17%	―	-5.74%	54.80%
VVPR	41 Neutral	$33.70M	-0.41	―	―	-51.35%	-103.78%
BEEM	40 Neutral	$31.21M	-0.86	-80.33%	―	-54.56%	-133.60%
SMXT	40 Underperform	$43.99M	-4.06	―	―	76.60%	70.94%

Ascent Solar Technologies Corporate Events

Ascent Solar Raises $1.7M Through Private Placement

On December 5, 2025, Ascent Solar Technologies entered into a securities purchase agreement with institutional and accredited investors for a private placement of shares and warrants, raising approximately $1.7 million in net proceeds. The company plans to use these funds for working capital purposes, and the transaction is expected to enhance its financial flexibility. The private placement, which closed on December 8, 2025, involves the issuance of common stock and warrants, with potential additional proceeds of approximately $3.5 million if the warrants are fully exercised. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.