Ascent Solar Technologies (ASTI) AI Stock Analysis

• Market Cap: $6.47M
• Dividend Yield: N/A
• Average Volume (3M): 786.61K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.78
• 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: 0.27
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: $1.50 ▼(-5.06% Downside)

Ascent Solar Technologies receives a low overall stock score due to significant financial challenges, including persistent losses, high debt levels, and negative cash flows. The technical analysis further indicates a bearish trend, with the stock trading below key moving averages and weak market momentum. The valuation metrics are also unfavorable, with a negative P/E ratio and no dividend yield, highlighting the company's ongoing struggles to achieve profitability and financial stability.

Positive Factors

Strategic Partnerships

The agreement with NovaSpark Energy enhances Ascent Solar's market reach by integrating its solar technology with mobile hydrogen systems, expanding applications in defense and disaster zones.

Space Sector Expansion

The partnership with CisLunar Industries positions Ascent Solar to provide durable power solutions for space missions, tapping into a growing market with high demand for energy-efficient technologies.

Revenue Growth

A 36.85% revenue growth indicates strong demand for Ascent Solar's products, reflecting successful market penetration and potential for sustained financial improvement.

Negative Factors

High Debt Levels

High debt levels relative to equity can strain Ascent Solar's financial flexibility, limiting its ability to invest in growth opportunities and manage economic downturns.

Negative Cash Flow

Negative cash flow indicates reliance on external financing, which may not be sustainable long-term, posing risks to operational stability and growth initiatives.

Operational Inefficiencies

Persistent negative profit margins highlight inefficiencies in covering costs, suggesting a need for strategic changes to improve profitability and competitiveness.

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 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: Negative
• Last Price: 1.58
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASTI, the sentiment is Negative. The current price of 1.58 is below the 20-day moving average (MA) of 1.65, below the 50-day MA of 1.97, and below the 200-day MA of 1.88, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 41.33 is Neutral, neither overbought nor oversold. The STOCH value of 60.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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%
SPRU	58 Neutral	$47.62M	-0.63	-18.23%	―	37.59%	72.94%
TURB	54 Neutral	$34.26M	-9.50	-99.17%	―	-5.74%	54.80%
BEEM	40 Neutral	$39.86M	-1.47	-80.33%	―	-54.56%	-133.60%
ASTI	40 Underperform	$6.47M	-0.40	-241.51%	―	36.85%	98.78%
SMXT	40 Underperform	$50.50M	―	―	―	76.60%	70.94%
VVPR	39 Underperform	$39.34M	-0.48	―	―	-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.