New Opportunity: Ascent Solar Technologies Inc. (OTCMKTS: ASTI)
This continues to be one of the most productive market environments that we have seen in a very long time. We keep seeing one great opportunity after another – solid setups based on technicals, fundamentals, and interesting stories – and they keep working out.
Our latest pick went for a quick 53% in a matter of a few hours. Today’s new opportunity looks even more interesting, on its face.
ASTI is a sophisticated PV solar play. The stock has been crushed, but we are seeing some strong signs of accumulation. In fact, one such strong-handed buyer has just revealed himself. No doubt, others will follow. Check it out!
Company: Ascent Solar Technologies Inc.
Latest News: http://finance.yahoo.com/q/h?s=ASTI+Headlines
Who is ASTI
Ascent Solar Technologies, Inc. (OTCMKTS:ASTI) promulgates itself as a development stage company that designs and manufactures photovoltaic integrated consumer electronics; and portable power applications for commercial and military users.
Ascent Solar modules were named one of TIME Magazine’s 50 best inventions for 2011. They can be directly integrated into consumer products and off-grid applications, commercial transportation, automotive solutions, space applications, consumer electronics for portable power and durable off-grid solutions.
It offers Surfr, a battery and solar case for the Apple iPhone 4/4S smart phone, Samsung Galaxy S III, Samsung Galaxy S 4, and Apple iPhone; EnerPlex Kickr, a portable solar charging device; and EnerPlex Jumpr portable power banks.
The company also provides Generatr 1200 and Generatr 100 lithium-ion based large format batteries; Commandr 20, a solar charger; and Kickr II+ and IV+ solar products. Ascent Solar Technologies, Inc. markets and sells its products through e-commerce Website, goenerplex.com, as well as through online retailers and distributors.
ASTI is a developer of thin-film photovoltaic modules using flexible plastic substrate materials that are more versatile and rugged than traditional solar panels.
The company has been struggling to shore up its balance sheet. But two things can help that. The first is, you need to make some money. The second is, you need to foster the right psychological tone for shares by visible deep-pockets stepping into the tape.
One the first note, ASTI is pulling in trailing 12-month revenues of $3.8M. So, check. The second point is nicely accounted for by the stock’s recent headline flow.
For example, the company just announced that it has entered into a Securities Purchase Agreement with Hong Kong Boone Group Limited on February 8, 2017 for the investment of $20 million by purchasing the Company’s newly designated Series K Convertible Preferred Stock.
Pursuant to the Agreement, shares of the Series K Preferred Stock, priced at $1,000 per share, will be convertible at the option of the Investor into restricted common stock of Ascent Solar at a fixed conversion price of $0.004 per share, representing a premium of approximately 74% to the Company’s per share closing bid price on the day prior to the signing of the Agreement. There are no registration rights applicable to the Series K Preferred Stock.
Some days before that announcement, we saw the company’s leadership show up in force in a similar manner, as captured by the announcement of a Security Purchase Agreement with Tertius Financial Group Pte. Ltd., a Singapore based entity controlled and 50% owned by Ascent’s President & CEO, Victor Lee.
Pursuant to the Agreement, the Company will issue approximately 333.33 million shares of Ascent Solar’s restricted Common Stock in exchange for TFG canceling its Promissory Note of $600K (plus accrued interest of approximately $4,340) that was issued by the Company to TFG on December 6, 2016 (refer to 8-K filing on December 8, 2016). The new ownership by TFG represents approximately 24% of the outstanding shares of Common Stock of the Company on a post transaction basis.
So, the two pieces are in place, and we should the tape have a chance to heal.
The chart looks interesting. Volume has been strong and the tape is thick, so risk protection can work here.
In addition, the indicators are really lining up right. RSI has put in oversold troughs at deep levels, but on rising valleys. And the MACD just poked through to a second bullish inflection in the past 3 weeks.
With the stock making a higher low in between, the concept of an upward breakout is on the table here.
ASTI (Ascent Solar Technologies Inc.) is a development stage company, designs and manufactures photovoltaic integrated consumer electronics; and portable power applications for commercial and military users. It offers Surfr, a battery and solar case for the Apple iPhone 4/4S smart phone, Samsung Galaxy S III, Samsung Galaxy S 4, and Apple iPhone; EnerPlex Kickr, a portable solar charging device; and EnerPlex Jumpr portable power banks. The company also provides Generatr 1200 and Generatr 100 lithium-ion based large format batteries; Commandr 20, a solar charger; and Kickr II+ and IV+ solar products. Ascent Solar Technologies, Inc. markets and sells its products through e-commerce Website, goenerplex.com, as well as through online retailers and distributors. The company was founded in 2005 and is headquartered in Thornton, Colorado.
- ASTI has seen two deep-pocketed investors step up to the plate over the past month suggesting the stock is in strong hands and support will be protected.
- ASTI is making real money, with trailing revs already coming in at $3.8M.
- ASTI is coming off an RSI trough under 40, pointing to a massively oversold stock now heading back the other way.
- ASTI just recorded a MACD Bullish reversal, suggesting a technical change in trend.
- ASTI shares just showed what’s possible here with a 3-day 275% rally. That could happen again at any time.
ASTI has been beaten down, but solar is set to be a momentum trade now that crude oil prices have recovered. The whole space took a beating off the election, but we sense that things are washed out.
This stock has run into some deep pockets after posted a monster top line. We saw what’s possible with shares of ASTI just a couple weeks ago when traders were treated to nearly 300% in gains in just a few days. Support is holding, indicators are starting to point North, and big money is involved. It may be time to look for another such move.
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