Got cash? One solar focused penny stock that’s recently been beat up, Ascent Solar Technologies Inc. (ASTI), sure does and they’re getting more. With sales a fraction in 2012 compared to 2011, ASTIstock is in the spotlight today after announcing the initial sale of SOLab Basic and SOLab Premium products, an autonomous solar charger meant for automotive battery cycling & trickle charging. The initial sale will add to the incredible amount of cash, $13,440,032, that the Company had on hand as of June 30, 2012 and continue to contribute to the near 100% gains since our coverage was initiated at the start of 2012.
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ASTI Stock Chart
Market Cap: 41.73M
Close: 1.01 (%)
Volume: 276,630
High: 1.01
Low: 0.96
Trades: 518
Avg Vol (3 month): 1,063,700
Avg Vol (10 day): 424,825
Average Trade Size: 534
Authorized: 125,000,000
Issued and Outstanding: 50,485,628
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Up until recently, Ascent’s revenues have been primarily generated from the Company’s governmental research and development contracts which is why they have not been very significant. Their plan to commercialize flexible PV modules began a few months ago which is now starting to show revenue generating results.
Up 90.57% since our initial coverage to start 2012, ASTI stock is currently trading at -29.36% below the 50-day moving average (1.43), 0.50% above the 200-day moving average (1.00) — The infamous “Golden Cross.” ASTI is priced -56.28% below the 52 week high set in August (2.31) which leaves room for a gain of as much as 128%. Financially; for the six months ended June 30, 2012, Ascent Solar booked $596,000 of revenue, $523,000 of which was from government research and development contracts.
About ASTI Stock
Ascent Solar Technologies, Inc. is a development stage company formed to commercialize flexible photovoltaic modules using our proprietary technology. Following the appointment of the Company’s new President and CEO on February 2, 2012, Ascent Solar began to reposition their business model with an immediate focus into developing downstream consumer products launching their new EnerPlex™ brand line of consumer products in June, and introducing the first product under the EnerPlex™ brand with a solar-assisted charger for the iPhone® 4/4S smart phone featuring our ultra light CIGS thin film technology.
To view the SEC filings for ASTI, click here.
Bottom Line: ASTI is a must add to the list of penny stocks to watch for Monday and the remainder of the month. ASTI stock reached a new 52 week high just two months ago, $2.31. The announcement today could easily send this solar stock into a frenzy and an easy 100% gain for early entrants into the Golden Cross scenario.
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