Dallas, Texas 07/17/2013 (Financialstrend) – Ascent Solar Technologies, Inc. (NASDAQ:ASTI) is a development stage firm that has been formed to commercialize flexible photovoltaic (PV) modules using technological developments. The firm was recently chosen by the Energizer for a charity agenda in which 13 million hours of solar light are donated. This made the share price of ASTI higher, because of the optimistic examination of the traders along with the future possible partnering with Energizer.
ASTI filed a shelf registration with the SEC to sell 15,375 shares progressively. The company was expected to report revenue of $400,000 for the quarter of June. On 11th July, 2013 the company announced that it is entering into an agreement with Government of the municipal city of Suqian in China to establish a joint venture to build a new manufacturing plant with a population of over 5 million and an area of 3,303 square miles, in Suqian is in northern Jiangsu Province of China. This agreement involves a three-phase project that is multi-faceted over the next 6 years. In the first stage, ASTI will own up to 80% majority interest in the joint venture with Suqian.
Shares of Ascent Solar Technologies, Inc. opened at $1.14 per share on Tuesday and thereafter increased by 3.57% to close at $1.16 for the day. There had been intraday price movements in the stock within the range of $1.12 as low price to $1.23 as high price. Ascent Solar has 52 week low at $0.49 and 52 week high at $2.31 per share. The company has 51.52 million shares outstanding in the market which gives it a market cap of $59.77 million and there is institutional ownership in the capital at 4% of the stock. Ascent Solar witnessed the trade of 3.05 million shares on Tuesday, while the average level is at 1.02 million shares per day.
