Ascent Solar: Very Expensive Play On Consumer Solar Products Growth
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EnerPlex Expands North American Distribution & Retail Presence via Partnership with WYNIT DistributionBusiness Wire (Jul 7, 2014)
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at MarketWatch.com (Apr 1, 2011)
at MarketWatch.com (Dec 10, 2010)
at MarketWatch.com (Nov 11, 2010)
at CNBC.com (Oct 12, 2010)
at CNBC.com (Oct 12, 2010)
at CNBC.com (Oct 12, 2010)
at CNBC.com (Oct 11, 2010)
at CNBC.com (Oct 11, 2010)
at MarketWatch.com (Oct 11, 2010)
Mon, Jul. 21, 3:51 PM
- Ascent Solar (ASTI -4%) plans to sell $32M in convertible debt through a private placement. The notes carry an interest rate of 8%, and a conversion price of $0.5246 - a 31% premium to current levels.
- As part of the deal, Ascent will issue buyers warrants to purchase 26.7M shares at $0.5246 apiece.
- Initially, the company will only receive $7M in gross proceeds. The remaining gross proceeds will be provided in installments over an 18-month period.
- Ascent had only $1.6M in cash as of March 31, and $6.3M in debt.
Tue, Jun. 17, 12:55 PM
- SolarCity has announced plans to build a 1GW+ module plant in NY, and to follow it up with one or more much larger facilities. Notably, the company declares (in spite of a current capacity glut) it needs to build the plants to meet long-term solar demand.
- Yingli missed Q1 estimates, but reported a healthy gross margin (thanks in part to strong Japanese sales) and reiterated full-year guidance.
- Also: Goldman is out with a bullish note, predicting rooftop solar installations will post a 40% CAGR through 2016.
- Gainers: FSLR +2.8%. SPWR +4.2%. SUNE +4.4%. JASO +8.2%. SOL +7.5%. JKS +6.5%. CSIQ +7.4%. DQ +4.2%. ASTI +3.9%. HSOL +6.9%. TSL +5.6%. ENPH +3.5%. CSUN +3.7%. RGSE +11.3% (announced a new Hawaiian deal).
- SolarCity's plans are a positive for equipment vendors GT Advanced (GTAT +1.5%) and Veeco (VECO +1.6%), each of which has seen its solar orders plummet thanks to the capacity glut.
- Solar ETFs: KWT, TAN
- Yesterday: Solar stocks rally; Deutsche upbeat on YieldCo potential
Fri, May. 30, 2:21 PM
- Ascent Solar (ASTI +1.2%) has sold 300 more shares of Series C preferred stock to solar mounting/racking equipment firm IronRidge at $10K apiece. A prior $3M preferred stock sale to IronRidge was closed on April 1. (8-K)
- Ascent ended 2013 with just $3.3M in cash. The company's latest financing moves comes shortly after it announced a UAV powered by Ascent solar modules had finished successful test flights.
Wed, May. 21, 11:36 AM
- Though Trina's Q1 module shipments were only in-line with the company's revised guidance, it's expecting Q2 shipments will rise 70%-81% Q/Q.
- Volatile solar stocks are responding well (TAN +3.8%) to Trina's outlook, which follows a more subdued Q2 growth forecast from Canadian Solar (CSIQ +3.6%) last Friday, and comes amid general concerns about Chinese growth.
- Notable gainers (besides Trina): CSUN +14.1%. SOL +8.7%. JKS +6.6%. YGE +5.9%. DQ +5.7%. JASO +4.9%. ASTI +6.8%. ENPH +3.9%. SUNE +2.7%.
- NPD Solarbuzz recently noted the world's top-20 module suppliers are collectively forecasting 30%+ 2014 shipment growth. The firm added the outlooks imply 2014 end-market demand will be near 50GW.
Wed, Apr. 30, 7:38 AM
- Ascent Solar (ASTI) says it has shipped a $750K+ order for EnerPlex solar-powered/rechargeable accessories to Fry's Electronics for an upcoming anniversary sale.
- The order's value exceeds both Ascent's Q1 and Q4 revenue totals (the latter by over 30%).
- Shares rose 9.8% yesterday after Ascent pre-announced better-than-expected Q1 sales.
Tue, Apr. 29, 3:41 PM
- Ascent Solar (ASTI +10.1%) expects to report Q1 revenue of $753K, +30% Q/Q and slightly above guidance.
- Sales of EnerPlex accessories largely fueled the growth: They rose 29% Q/Q to $630K. Government R&D contract revenue totaled 81K, and specialty market PV sales $42K.
- Shares closed yesterday not far removed from their 52-week low of $0.42.
Thu, Mar. 6, 5:41 PM
Tue, Jan. 7, 1:05 PM
- Solar stocks started 2014 with a bang, and are adding to their momentum today (TAN +4%) with the help of positive industry and company-specific news.
- The Chinese government, which last year set a 35GW 2015 cumulative installation target, is now promising additional support, and says it will draft guidelines for industry M&A. Consolidation with China's fragmented solar cell/module market could both lower overcapacity (already declining thanks to rising demand) and lead to further margin expansion.
- Yingli (YGE +8.7%) and Canadian Solar (CSIQ +7.4%), both of which saw huge 2013 gains, are today's biggest gainers. Yingli has announced it's forming a JV with state-owned China National Nuclear Corp. to create 500MW of utility-scale solar projects. Canadian has announced a deal to supply 25.3MW of modules for four North Carolina projects.
- Also: Hanwha (HSOL +4.6%) has signed an MOU to supply up to 50MW of modules to U.S. residential solar installer OneRoof Energy.
- Other gainers: FSLR +2.7% (hit by a Goldman downgrade yesterday). SUNE +4.4%. DQ +4.9%. CSUN +3.2%. JASO +5.5%. ENPH +6.8%. ASTI +3.8%. JKS +3%.
Thu, Jan. 2, 9:29 AM
- Six months after signing a "framework agreement" with the Suqian, China municipal government for the creation of a manufacturing JV, Ascent Solar (ASTI) has signed a "definitive agreement" with Suqian's government to create the JV. (PR)
- As previously announced, Suqian will invest $32.5M in the JV, which will produce Ascent's EnerPlex solar-powered accessories. Ascent will also get rent-free use of 331K sq. feet of factory/office space, a 5-year corporate tax holiday, and a 50% tax rebate over the following 5 years. Ascent will eventually be able to purchase 215K sq. feet of space at a "favorable price."
- Suqian will initially have a 75% stake in the JV, but Ascent will have a chance to up its stake to 80% in 2014, after providing IP and equipment. The JV is expected to run a facility with 25MW of manufacturing capacity by Q1 2016, and (if all goes well) create a 100MW facility within six years.
Dec. 23, 2013, 5:31 PM
- Ascent Solar (ASTI +5.8%) says it will launch its Surfr iPhone 5/5S case at CES (runs from Jan. 7-10). The company claims Surfr, which features both a battery and solar cells, doubles an iPhone's battery life. (PR)
- Shares moved three weeks ago after Ascent announced a Volvo pavillion would be powered by its solar cells.
Dec. 4, 2013, 11:05 AM
- Ascent's (ASTI +6.3%) solar modules will be used to power Volvo's Pure Tension Pavilion, which the automaker is using to show off its new V60 hybrid car. Thanks to Ascent's flexible panels, the pavilion can be use to charge a V60. (PR)
- Ascent rallied last week after announcing it plans to open three Southern California kiosks to promote its EnerPlex solar accessories.
Nov. 27, 2013, 11:37 AM
- Ascent Solar (ASTI +5.3%) has announced the opening of kiosks at three Southern California locations to promote its EnerPlex solar-powered accessories. (PR)
- The kiosk launches are meant to complement Ascent's efforts to expand the retail distribution of its EnerPlex line, via deals with retailers such as Wal-Mart, Target, and Radio Shack.
Oct. 30, 2013, 8:38 AM
- Ascent Solar Technologies (ASTI) closes a $5M Series B Preferred tranche from Ironridge Global Partners with the intent of closing a second $5M tranche after shareholders approve the issuance. (8-K)
- The first tranche is convertible at $1.50/common share (65% premium to yesterday's close) and pays a 5.75% dividend.
Oct. 28, 2013, 3:12 PM
- Ascent Solar Technologies (ASTI -8.4%) falls after releasing preliminary Q3 results.
- Management expects Q3 revenue of $275K, up 22% Q/Q but down 51% Y/Y. EnerPlex revenue more than doubled Q/Q to $238K while government R&D contract revenue declined more than 85%. The company expects to end the quarter with cash of $3.9M.
- The company sees government revenue swinging back in Q4 to above Q2 levels after a "delay in government funding" hurt Q3 results.
- CEO Victo Lee: "We believe the momentum in our EnerPlex product sales quarter over quarter validates our strategy of shifting towards a B2C business model."
Oct. 4, 2013, 9:12 AM
Oct. 3, 2013, 10:25 AM
- Ascent Solar (ASTI +23.5%) has skyrocketed after announcing Wal-mart is now selling its EnerPlex solar accessories. (PR)
- As is its custom, Wal-mart is selling the items at a discount. For example, Ascent's EnerPlex Surfr solar/battery-powered cases, which go for $69.99 on Fry's Electronics's site, are being sold for $56.88 on Wal-mart's site.
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ASTI vs. ETF Alternatives
Ascent Solar Technologies, Inc., is a development stage company to commercialize flexible photovoltaic modules using proprietary technology. Its proprietary manufacturing process deposits multiple layers of materials.
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