North Coast Solar Stocks

September 22, 2009

Ascent Solar shares rise more than 8 pct on new supply deal with Goal Zero

Filed under: ASTI — Tags: , , , , — Jason @ 3:44 pm

Tuesday September 22, 2009, 3:44 pm EDT

NEW YORK (AP) — Shares of Ascent Solar Technologies Inc. (ASTI) rose on Tuesday on news the solar module maker signed a supply deal with Goal Zero LLC.

Shares rose 53 cents, or 8.3 percent, to $6.91 in afternoon trading.

Ascent agreed to supply Goal Zero — a subsidiary of Provo Craft and Novelty Inc. — with up to 30,700 units of its “Premier” module through 2010.

Rodman & Renshaw analyst Amit Dayal said he views this move as a positive step toward the company’s expected commercialization of its thin film technology. Additionally, Dayal said company has a significant advantage over its peers.

“We believe the company is one of the only public plays that is close to commercializing flexible thin-film solar photovoltaic modules based on a proprietary COGS technology using a low cost manufacturing process,” Dayal said as he maintained a “Market Outperform” rating, with a $10 price target.

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