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SeeThruEquity Initiates Research Coverage on Ascent Solar Technologies, Inc. with a Target Price of $3.00(ACCESSWIRE (Canada) Via Acquire Media NewsEdge) Category: Baystreet Newswire Company: SeeThruEquity ID: 421787 Date: Tuesday, October 21, 2014 Ticker: NASDAQ:ASTI New York, NY / ACCESSWIRE / October 21, 2014 / SeeThruEquity, a leading independent equity research and corporate access firm focused on small-cap and micro-cap public companies, today announced it has initiated coverage on Ascent Solar Technologies, Inc. (NASDAQ: ASTI), a developer of thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. "Ascent has several potential catalysts over the next year as it expands the retail distribution of its consumer brand EnerPlex. Based in Thornton, Colorado, Ascent Solar has invested over $200mn developing highly advanced technology and manufacturing processes for commercializing flexible photovoltaic materials. What intrigues us most about Ascent Solar is the potential for the company to leverage the differentiating aspects of its proprietary technology – high power-to-weight and voltage-to-area ratios built on tough, flexible materials – to new solar markets that have strong potential for attractive economics, such as consumer electronics, portable power, and specialized aerospace and defense applications," stated Ajay Tandon, CEO of SeeThruEquity. "We are initiating coverage with a target price of $3.00 per share." Additional investment highlights are as follows: Unique way to invest in solar Ascent Solar has developed a unique approach to competing in the solar market by pivoting its strategy. After new management assumed control of the company in early 2012, Ascent has been repositioning itself as a leading provider of solar products for consumer electronics and specialty applications such as aerospace and defense. Unlike most other solar plays, which are dependent on winning the race to producing the lowest cost per watt, Ascent is targeting attractive markets such as portable power for consumer electronics, which may be able to insulate the company from the margin erosion and pricing pressure that pervades the rest of the solar industry. EnerPlex product line gaining traction Ascent’s flagship product line, EnerPlex, offers complete portable power solutions by uniting its lightweight and rugged solar with power storage solutions for consumers on the go, or exploring the outdoors in even the harshest environments. EnerPlex has an impressive line of products, ranging from phone charges, to solar backpacks and a full ensemble of accessories. The product line takes aim at several large markets, including the $30.5Bn worldwide market for portable power and the $121Bn spent each year in the US on outdoor gear. EnerPlex has been gaining traction, with a retail presence online at Walmart.com and Amazon.com, among others, a plan for 20 kiosks in the US, and a physical presence in approximately 60 stores at Fry’s Electronics in the US and Anaconda Adventure Superstores in Australia, New Zealand and the South Pacific. JV in China to reduce costs, drive growth At the end of 2013 Ascent announced a joint venture with the municipal city of Suqian in China in which the partner will contribute over $30mn of cash to build a new facility to manufacture and market Ascent’s products. Ascent is expected to have some cash requirements, but the vast majority of its contribution to the venture will be its technological know-how and manufacturing equipment, which was valued at over $70mn by Suqian. In our view this not only demonstrates the deep value of the company’s proprietary technology and manufacturing process, but also provides a road to expanded growth, reduced costs, closer proximity to its manufacturing partners, and an intriguing entry point into some of the world’s largest markets. The report is available here: ASTI Initiation Report. SeeThruEquity is an approved equity research contributor on Thomson First Call, Capital IQ, FactSet, and Zack’s. The report will also be available on these platforms. Please review important disclosures on our website at www.seethruequity.com. About Ascent Solar Technologies, Inc. Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.goenerplex.com or www.ascentsolar.com. About SeeThruEquity SeeThruEquity is an equity research and corporate access firm focused on companies with less than $1 billion in market capitalization. The research is not paid for and is unbiased. We do not conduct any investment banking or commission based business. We are approved to contribute our research to Thomson One Analytics (First Call), Capital IQ, FactSet, Zacks, and distribute our research to our database of opt-in investors. We also contribute our estimates to Thomson Estimates, the leading estimates platform on Wall Street. For more information visit www.seethruequity.com. Contact: Ajay Tandon SeeThruEquity (646) 495-0939 SOURCE: SeeThruEquity © 1998 - 2014 Baystreet.ca Media Corp. All rights reserved. |