Ascent Solar Technologies (ASTI) Stock Jumped 38% Last Week: But Why?
Ascent Solar Technologies Inc. (OTCMKTS:ASTI) jumped 38% last week. Recently the company announced the completion of major contact delivery for the HyperLight thing film modules meant for high altitude airstrip apps.
It is vital to note that the HyperLight modules help in reducing PV and packaging module mass to attain the best-in-class specific power of more than 350W/kg for completely laminated airstrip products. At the same time, they will be streamlining client operations to incorporate modules into their apps.
The company recently released financial results for Q1 2021 ended March 31, 2021. Ascent Solar posted net revenue of $165,000 during the quarter, which is a significant increase from 4,000 reported in Q1 2020. For the first nine months of 2020, the company was in dominant status because of financial challenges and the impact of COVID-19. Following a series of recapitalization and restructuring activities that commenced in June 2020, Ascent Solar materially recommenced operations in October 2020, thereby leading to a revenue increase. So in the coming months, ASTI is a stock to watch.
Market Reaction:
On Friday, ASTI stock jumped 3.64% at $0.0185 with more than 135.35 million shares, compared to its average volume of 53.92 million shares. The stock had moved within a range of $0.0179 – 0.0215 after opening the trade at $0.0182. Over the past 52-week, the stock has been trading within a range of $0.0001 – 0.0970.
