Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) Spiking on Funding News

Ascent Solar Technologies, Inc.(OTCMKTS:ASTI) soared over 80% today after securing funds from an investor.

THORNTON, CO–(Marketwired – Sep 26, 2016) – Ascent Solar Technologies, Inc. ( OTCQB : ASTI ), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the Company’s EnerPlex™ series of consumer products, announced today that the Company has entered into a Securities Purchase Agreement (“Agreement”) with an accredited investor (“Investor”) for the private placement of $1.35 million of the Company’s newly designated Series J 10% Convertible Preferred Stock (“Series J Preferred Stock”).

Pursuant to the Agreement, shares of the Series J Preferred Stock, including the amount of any accrued and unpaid dividends thereon, will be convertible at the option of the Investor into common stock at a fixed conversion price of $0.015 per share. There are no registration rights which are applicable to the Series J Preferred Stock.

At closing, the Company issued a total of 225 shares of Series J Preferred Stock to the investor in exchange for gross proceeds of $225,000. The Company will issue an additional 1,125 shares of Series J Preferred Stock in exchange for gross proceeds of $1,125,000 in five subsequent closings scheduled to occur in October and November 2016.

“We are satisfied to have secured this new investment, commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. The funding will provide us with ongoing working capital needs as we continue to focus on the high value specialty PV market. The new investment reinforces our Investor’s belief in Ascent’s strategy and the tremendous potential of the Company’s lightweight flexible CIGS solar panel.”

Original Source

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Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) shares have moved +81.250% on the news thus far today and have traded in the range of 0.016 – 0.031 during the current session. In order to take a look at where the stock might headed longer term, investors often look to research firms that cover the stock. Sell-side research firms currently have a consensus one year price target of 3.000 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.  The sell-side analysts are projecting earnings per share of 0.000 for the next fiscal quarter.  For the current year, analysts are predicting earnings of -3.600 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -67.023% away from its 50 day moving average of 0.088.  Based on the most recent available data, the equity is -99.478% off of its 52-week high of 5.560 and +123.077% away from its 52-week low which is 0.013.

Today, the stock opened at 0.016 and the last bid at the time of writing stood at 0.029.  During the session thus far, the equity dipped down to 0.016 and touched 0.031 as the high point. Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) has a market cap of 2.25M and has seen an average daily volume of 13227400 over the past three months.

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