North Coast Solar Stocks

June 2, 2009

Ascent Solar: Merriman Cuts Rating On Slowing Mfg Ramp

Filed under: ASTI — Tags: , , , , — Jason @ 11:36 am

Posted by Eric Savitz

Ascent Solar (ASTI) shares are trading lower today after Merriman Curhan Ford analyst Brion Tanous cut his rating on the thin-film solar module company to Neutral from Buy.

Tanous says the company could become “a low cost leader” with a “highly differentiated” solar product based on CIGS (copper indium gallium selenide) technology. But he also notes that the company is slowing a planned capacity ramp to conserve cash, pushing out the start of meaningful revenue into 2011. He notes that the company now expects to have 15 MW of capacity in 2010, down from previous forecasts of 30 MW.

Tanous now sees a 2009 loss of 81 cents a share, versus 67 cents previously. For 2010, he now sees a loss of 10 cents a share; his previous forecast was for a profit of 31 cents.

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