Ascent Solar Technologies (ASTI) Shares Tumble
By Daniel James Hayden IV
March 18, 2010 3:43 PM
March 18, 2010 3:43 PM
Symbols: ASTI
Shares of Ascent Solar Technologies, Inc. (Nasdaq: ASTI) fell sharply for the second day in a row during Thursday trading.
Ascent Solar Technologies fell 8.73% from the previous day's close of $3.78, down to $3.45.
The market reacted badly to an analyst downgrade and lowered price target of the stock.
Ardour Capital Investments analyst Adam Krop downgraded the stock from Hold to Reduce and lowered the price target from $5 to $3 per share.
The Ardour Capital Investments analyst reduced his 2011 revenue estimate from $75 million to $59 million and the 2012 estimated revenue was lowered from $176 million to $71 million.
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