Why Ascent Solar Technologies (ASTI) Stock Is Up Today

NEW YORK (TheStreet) -- Ascent Solar Technologies (ASTI) was gaining 12.7% to $3.19 Tuesday after announcing a new common stock investment of about $8 million.

The new common stock investment is led by TFG Radiant Investment, the company's largest shareholder, and Series A investor Seng Wei Seow.

For the first tranche of the Stock Purchase Agreement, Ascent issues 845,309 common shares each to TFG Radiant and Seow for a fixed per share price of $2.366, a 30% premium over its Friday closing price. In the second tranche the company plans to issue 1,425,000 shares to TFG Radiant at $2.80 a share. The second tranche is expected to close shortly after a special shareholder meeting in October, if shareholders approve the issuance.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Ratings team rates ASCENT SOLAR TECHNOLOGIES as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate ASCENT SOLAR TECHNOLOGIES (ASTI) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally high debt management risk."

If you liked this article you might like

Ascent Solar (ASTI) Stock Soars on New Patent

Strong On High Volume: Ascent Solar Technologies (ASTI)

5 Stocks Under $10 Set to Soar

Weak On High Volume: Ascent Solar Technologies (ASTI)

5 Stocks Under $10 Set to Soar