Ascent Solar Technologies, Inc. (NASDAQ:ASTI) shares are up big in afternoon trading after the company announced that they have been awarded a prestigious Schedule 56 contract by the General Services Administration (GSA) that will begin on December 15, 2015. We all know that solar energy will play a huge part in the future, but now thanks to ASTI, the U.S. government may also play a large role in bringing solar energy not only to federal agencies, but also to the United States Military.
Ascent Solar Technologies, Inc. (NASDAQ:ASTI) products such as their EnerPlex series will be able to be purchased by federal customers. It’s not easy to be granted a contract of this magnitude, and it is no wonder why the stock is trading up so high this afternoon.
“Ascent’s GSA Schedule 56 contract unlocks a large and previously untapped potential revenue opportunity. The military applications for Ascent’s lightweight and durable solar products are numerous, particularly considering the MilPak platform; but there are a multitude of other applications for Ascent’s products ranging from disaster relief to use by the U.S. Forest Service,” explained Rafael Gutierrez, Senior Vice President and COO of Ascent Solar.
The stock is up 28.19% or $0.044 following the news, hitting $0.199 per share. About 63.85 million shares traded hands or up 1338.06% from the average. ASTI has declined 86.11% since April 29, 2015 and is currently downtrending. It has underperformed the S&P500 by 85.91%.
The institutional sentiment decreased to 0.5 in Q2 2015. It’s down 1.00, from 1.5 in 2015Q1. The ratio turned negative, as 5 funds sold all their Ascent Solar Technologies, Inc. shares they owned while 3 reduced their positions. 1 funds bought stakes while 3 increased their total positions. Institutions now own 689,964 shares which is 9.79% more than the previous share count of 628,422 in 2015Q1.
Bank Of America Corp De holds 0% of its total portfolio in Ascent Solar Technologies, Inc., equating to 200 shares. Blackrock Advisors Llc owns 10,274 shares representing 0% of their total US portfolio. Moreover, Fifth Third Bancorp has 0% of their total portfolio invested in the company, equating to 30 shares. The Massachusetts-based Geode Capital Management Llc has a total of 0% of their portfolio invested in the stock. Goldman Sachs Group Inc, a New York-based fund reported 22,954 shares owned.
Ascent Solar Technologies, Inc. is engaged in commercializing e photovoltaic modules using its thin film technology. The company has a market cap of $13.98 million. The Company’s manufacturing process deposits multiple layers of materials, including a thin film of copper-indium-gallium-diselenide (CIGS) semiconductor material, on a plastic substrate using a roll-to-roll manufacturing process and then laser patterns the layers to create interconnected PV cells or PV modules, in a process known as monolithic integration. It currently has negative earnings. It has launched its new line of consumer products under the EnerPlex brand, and introduced its first product, the Surfr, a battery and a solar case for the Apple iPhone 4/4S smart phone featuring its CIGS thin film technology integrated directly into the case.