Ascent Solar Tech (ASTI) Climbs On Schedule 56 Contract


Ascent Solar Tech (NASDAQ: ASTI)

Ascent Solar Tech is having an incredible day in the market today after announcing a new contract will begin on December 15th.  The company has been awarded the General Services Administration Schedule 56 contract. Today, we’ll talk about what this contract means, how the market reacted, and what we can expect to see from ASTI moving forward.

What The Schedule 56 Contract Means For ASTI

Under the new contract, Federal customers can now easily purchase Ascent Solar Tech products. Federal customers include all branches of the US Military, federal agencies, and several others. In a statement following the announcement, Rafael Gutierrez, SVP and COO at ASTI had the following 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…”

How The Market Reacted To The News

As we’ve come to expect anytime we see positive news with regard to a publicly traded company, ASTI is doing incredibly well in the market today. Currently (9:31), ASTI is trading at $0.22 per share after a gain of 41.94%.

What We Can Expect To See From ASTI Moving Forward

Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from ASTI. The company’s award of the Schedule 56 contract is incredibly important and will lead to several opportunities as well as increased sales. Overall, things are looking up for Ascent Solar Tech.

ASTI Analysis

The institutional sentiment decreased to 0.5 in Q2 2015. Its down 1.00, from 1.5 in 2015Q1. The ratio is negative, as 5 funds sold all Ascent Solar Technologies, Inc. shares owned while 3 reduced positions. 1 fund bought stakes while 3 increased positions. They now own 689,964 shares or 9.79% more from 628,422 shares in 2015Q1.

Bank Of America Corp De holds less than 1% of its portfolio in Ascent Solar Technologies, Inc., or 200 shares. Blackrock Advisors LLC owns 10,274 shares or less than 1% of their US portfolio. Moreover, Fifth Third Bancorp has less than 1% invested in the company for 30 shares. The Massachusetts-based Geode Capital Management LLC has invested 0% in the stock. Goldman Sachs Group Inc, a New York-based fund, reported 22,954 shares.

Ascent Solar Technologies, Inc. is engaged in commercializing e-photovoltaic modules using its thin film technology. The company has a market cap of $23.10 million. The company’s manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide (CIGS) semiconductor material, on a plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected PV cells or PV modules, in a process known as monolithic integration. It currently has negative earnings. It has launched its new line of consumer products under the EnerPlex brand and introduced its first product, the Surfr – a battery and a solar case for the Apple iPhone 4/4S smart phone featuring its CIGS thin film technology integrated directly into the case.

[Image Courtesy of Wikipedia]


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