Market Overview

UPDATE: Cantor Fitzgerald Reiterates Ascent Solar Technologies at Sell Following Q3 Disappointment

Related ASTI
US Stock Futures Flat Ahead Of Economic Data
Morning Market Gainers

Cantor Fitzgerald maintained its Sell rating and $0.25 price target on Ascent Solar Technologies (NASDAQ: ASTI).

Cantor Fitzgerald noted, "On November 8, the company filed its 10-Q for the September quarter. The company reported revenues of $556k compared with our estimate of $1 million. Surprisingly, product revenues of $474k consisted of $405k of revenues to privately held TFG Radiant. TFG owns 31% of Ascent, and as far as we can tell, TFG Radiant has no assets other than its shares in Ascent. Excluding TFG Radiant, product sales of $69k for its EnerPlex covers indicate to us that there is very little market acceptance."

Ascent Solar Technologies closed at $0.69 on Thursday.

Posted-In: Cantor FitzgeraldAnalyst Color Reiteration Intraday Update Analyst Ratings


Related Articles (ASTI)

View Comments and Join the Discussion!

Get Benzinga's Newsletters