Will the Momentum Continue? Ascent Solar Technologies (OTCMKTS:ASTI)

Ascent Solar Technologies (OTCMKTS:ASTI) is moving higher in the opening session on Tuesday.

Ascent Solar Announces First Quarter 2021 Financial Results

• The Company posted net revenue of $165K for Q1 2021, a sharp increase from the corresponding quarter in 2020 of $4K. As reported previously, the Company was predominantly in a dormant status in the first nine months of 2020 due to financial constraints and COVID-19. After a series of restructuring and recapitalization activities which began in June 2020, the Company materially restarted its operations in October 2020. Hence, leading to increased revenue as compared to the same period last year.
• Cash and cash equivalents have also improved sharply from a $168K balance in first quarter of 2020 to $3.7M for the quarter ended March 31, 2021. Net working capital swung from negative $8.4M as of March 31, 2020 to positive $1.1M for the period ended March 31, 2021.
• Selling, general and administrative expenses also increased in this period to $562K, up from $70K in first quarter of 2020 due to increased headcount necessary for the restart of operations. As a result, the Company registered a loss from operations of $1.2M in the quarter ended March 31, 2021 as compared to a $354K loss in the first quarter of 2020.

Market Action

As of 9:50, ASTI stock is trading up by 2.51% to $0.0254. The stock has witnessed volume of 3.79 million shares, compared to its average volume of 91.68 million. The stock has moved within a range of 0.0235 – 0.0258 after opening the trade at $0.0235.

Moving Averages