Dallas, Texas 07/12/2013 (Financialstrend) – Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a manufacturer of flexible thin-film photovoltaic modules announced on Thursday that it is entering into an agreement with Government of the Municipal City of Suqian in Jiangsu Province, China to establish a joint venture to build a new manufacturing plant in Suqian, China. With a population of over 5 million and an area of 3,303 square miles, Suqian is in northern Jiangsu Province of China. The agreement involves a three-phase project which is multi-faceted over the next six years. In the first phase, Ascent Solar Technologies will own up to 80% majority interest in the joint venture with Suqian.
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) also announced its expansion of EnerPlex Distribution to the United Kingdom & Ireland with its new distribution partnership with West Coast Limited. The share price of Ascent Solar Technologies traded higher, as energizer selected the company for a charity program in which solar lights worth $13 million were donated. This news was perceived as positive by investors. The stock was recently added to the NASDAQ gainer watch list, along with Neonode, Inc. (NASDAQ:NEON).
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) closed at $1.11 on Thursday, recording a decline of 2.63% in the share price for the day. The stock price fluctuated from a low value of $1.03 to a high one of $1.14 per share. The company currently has a 52-week low of $0.49 and a 52-week high of $2.31 per share.
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) currently has 51.52 million outstanding shares in the market with institutional ownership of 4% of its total equity capital. Trading volume stood at 1.59 million shares on Thursday, with an average one for Ascent Solar Technologies at 9.32million shares per day. The company’s market capitalisation is 57.19 million.