Ascent Solar Technologies (ASTI) AI Stock Analysis

• Market Cap: $6.24M
• Dividend Yield: N/A
• Average Volume (3M): 4.33M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.00
• Revenue Growth: -84.71%
• EPS Growth: 98.95%
• Country: US
• Employees: 16
• Sector: Technology
• Sector Strength: 86
• Industry: Solar
• EPS (TTM): -3.00
• Shares Outstanding: 1,924,980
• 10 Day Avg. Volume: 12,887,994
• 30 Day Avg. Volume: 4,329,469
• PEG Ratio: 3.92
• Price to Book (P/B): 1.06K
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -454.50
• Enterprise Value/Market Cap: 778.67
• Enterprise Value/Revenue: 3.24K
• Enterprise Value/Gross Profit: -19.50K
• Enterprise Value/Ebitda: -126.59
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 48 Neutral
• Price Target: $3.00 ▼(-7.41%Downside)

Ascent Solar Technologies' overall score is driven by significant financial weaknesses and valuation challenges, tempered by promising corporate developments. The company's expansion into the defense sector presents a potential growth avenue, but persistent financial instability and technical caution limit the stock's attractiveness.

Ascent Solar Technologies Business Overview & Revenue Model

Company Description

Ascent Solar Technologies (ASTI) is a leading provider in the solar energy sector, specializing in the development and manufacturing of cutting-edge, flexible, and lightweight photovoltaic modules. The company's core products include its proprietary thin-film solar technology, designed to deliver high-performance energy solutions for a range of applications such as aerospace, defense, consumer electronics, and off-grid power systems.

How the Company Makes Money

Ascent Solar Technologies generates revenue primarily through the sale of its innovative photovoltaic modules. The company's key revenue streams include direct sales to businesses and government agencies, as well as strategic partnerships with manufacturers and technology integrators that incorporate Ascent's solar products into their own offerings. Additionally, ASTI engages in research and development collaborations and may receive government grants or contracts that support its technological advancements. The company's flexible thin-film technology, which can be customized and adapted to various uses, is a significant factor contributing to its earnings potential.

Ascent Solar Technologies Financial Statement Overview

Summary

Ascent Solar Technologies is facing critical financial difficulties, with persistent losses, high debt levels, and negative cash flows. Despite slight improvements in equity, the company's financial health remains weak, necessitating urgent 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	599.03K	41.89K	458.26K	1.22M	607.78K	66.61K
Gross Profit	-249.03K	-106.48K	-1.43M	-788.67K	-1.29M	-107.97K
EBITDA	-7.14M	-7.91M	-14.13M	-16.28M	-4.21M	5.46M
Net Income	-8.27M	-9.13M	-17.07M	-19.75M	-6.92M	-4.89M
Balance Sheet
Total Assets	6.17M	7.15M	6.30M	18.68M	12.85M	7.37M
Cash, Cash Equivalents and Short-Term Investments	2.26M	3.17M	1.05M	11.48M	5.96M	167.72K
Total Debt	1.90M	2.06M	4.23M	10.08M	13.51M	19.42M
Total Liabilities	3.60M	3.77M	7.83M	14.09M	15.68M	27.56M
Stockholders Equity	2.58M	3.38M	-1.53M	4.59M	-2.83M	-20.19M
Cash Flow
Free Cash Flow	-8.78M	-8.42M	-13.41M	-10.69M	-9.68M	-2.88M
Operating Cash Flow	-8.78M	-8.42M	-9.54M	-10.51M	-9.40M	-2.88M
Investing Cash Flow	-1.32K	-421.00	-3.88M	-265.47K	-301.52K	254.44K
Financing Cash Flow	10.84M	10.55M	2.96M	16.29M	15.50M	2.80M

Ascent Solar Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.24
• 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 3.24 is above the 20-day moving average (MA) of 1.74, above the 50-day MA of 1.71, and above the 200-day MA of 2.23, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 78.32 is Negative, neither overbought nor oversold. The STOCH value of 51.05 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
Sector *	63 Neutral	$33.22B	5.99	-11.76%	1.91%	5.54%	-19.87%
FTCI	59 Neutral	$57.96M	―	-123.52%	―	-43.69%	12.75%
SOL	58 Neutral	$94.43M	―	-1.63%	―	-19.52%	64.89%
ASTI	48 Neutral	$6.24M	―	-9999.00%	―	-84.71%	98.95%
SPRU	46 Neutral	$36.19M	―	-49.28%	―	8.97%	-68.08%
VVPR	38 Underperform	$36.30M	―		―	-51.35%	-103.78%
MAXN	38 Underperform	$51.87M	―	307.38%	―	-54.68%	63.56%

Ascent Solar Technologies Corporate Events

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.

Ascent Solar Reduces Authorized Shares to 200 Million

On June 4, 2025, Ascent Solar Technologies filed a Certificate of Amendment to reduce its authorized shares of Common Stock from 500 million to 200 million. This decision, approved by stockholders on May 29, 2025, reflects a strategic move to potentially streamline the company’s capital structure.

Ascent Solar Approves Key Proposals at Annual Meeting

Ascent Solar Technologies held its 2025 Annual Meeting of Stockholders on May 29, 2025, where several key proposals were approved. These included increasing the shares in the 2023 Equity Incentive Plan, electing two directors, ratifying the appointment of an accounting firm, approving amendments for a reverse stock split and reducing authorized common shares, and approving executive compensation.