Ascent Solar Tech (NASDAQ: ASTI)Ascent Solar has been a very interesting stock to watch over the past couple of weeks. After being awarded an important contract, ASTI climbed in the market. However, over the past week, the stock has declined by more than 12%. Now, a big question is starting to arise: Is the outlook on ASTI still bullish? In my opinion, the answer is yes! Today, we’ll talk about why I believe the outlook on ASTI is very bullish and now may be the time to get involved.
What Is ASTI
Before we get into why I believe Ascent Solar is likely to climb in the market, it’s important that you understand what the company does. As the name of the company would suggest, Ascent Solar is a company that’s heavily focused on solar technology. However, it’s not just any solar technology. ASTI has created compact, lightweight, yet incredibly durable solar technology that can come in handy in several indications. While you may never see ASTI solar panels on the roof of a building, you are likely to see them on the arm of a soldier, which brings me to the main point here…
ASTI Is Likely To Climb Thanks To A Big Contract
Recently, ASTI announced that it had been granted the GSA Schedule 56 contract. This is a government contract that unlocks the door to a whole new world of potential for the company. Essentially, the GSA Schedule 56 contract enables government agencies to easily purchase Ascent Solar products. This means that soon, ASTI is likely to be flooded with orders from all branches of the US Military, the US Forest Services, and a wide range of other government agencies. Ultimately, what this contract does is open the door to an entirely untapped potential audience. In a statement following the announcement of the new contract, ASTI SVP and COO, Rafael Gutierrez had the following comment to offer:
“Ascent’s GSA Schedule 56 contract unlocks a large and previously untapped potential revenue opportunity. The Military applications for Ascent’s lightweight and durable solar products are numerous, particularly considering the MilPak platform, but there are a multitude of other applications for Ascent’s products ranging from disaster relief to use by the US Forest Services…”
ASTI Is Building A Strong List Of Intellectual Property
In the world of tech, IP is incredibly important, and when it comes to Ascent Solar, the company is building an incredibly strong list. In fact, the company was recently awarded a US patent with regard to the manufacturing of one of their flexible thin film photovoltaic modules that are used in it’s EnerPlex line, a line that is leading the way for innovation of solar technology in space!
What We Can Expect To See From ASTI Moving Forward
While the movement in the market over the past week hasn’t been great, I still have an incredibly bullish opinion of what we can expect to see from ASTI moving forward. First and foremost, the company is no longer limited to a smaller target market. Being able to sell its products to US armed services and federal agencies expands their horizons in a big way. Also, throughout the years, ASTI has proven its ability in terms of innovation in the solar technology space. With that said, after the recent declines on the stock, now may be the perfect time to get involved!
What Do You Think?
Where do you think ASTI is headed and why? Let us know your opinion in the comments below!
[Image Courtesy of RECHARGE]
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