A small company with a ton of potential, Ascent Solar Technologies (OTCMKTS:ASTI) is soaring today. At the time of writing, ASTI stock is up more than 90%. This comes as the manufacturer of lightweight and state-of-the-art photovoltaic (PV) solutions announced some pretty significant news.
Accordingly, let’s take a look at the announcement, and what it could mean for shareholders.
NASA’s on Board With ASTI Stock
Today, Ascent announced it has been selected by NASA’s Marshall Space Flight Center to participate in two flight demonstrations. These demonstrations include the Lightweight Integrated Solar Array and anTenna (LISA-T) project, as well as the Solar Cruiser solar sail project. Indeed, investors have cheered this announcement. This validation of the company’s portfolio of PV products is encouraging.
The photovoltaic technologies Ascent produces are integral to high-performing power generation and communications for small spacecraft. Additionally, these technologies help solve the power limitation of today’s smaller satellites. According to the company, they have received significant commercial, scientific and exploratory interest.
It appears there’s potential for Ascent to benefit from future NASA missions to the moon and Mars as well. The company has been undertaking demanded and elongated simulation tests to gain approval. Accordingly, investors waiting patiently for this announcement have been generously rewarded today.
Indeed, the fact that Ascent now has a very large potential customer for its technology is encouraging.
What This Means for Investors
Ascent’s market capitalization just breached $1 billion today on this news. Indeed, this is likely to remain a “moon shot” investment right now for many investors. However, the company is moving in the right direction. Investors appear to believe Ascent is making the steps necessary to become an integral supplier in the space race.
Given the rise in private investment we’ve seen in space exploration of late, this is a medium- to long-term play on a sector with some interesting growth potential.
I think investors eager to jump aboard a space race that has become more competitive should give ASTI stock a look. This announcement is meaningful, and could pave the way for some pretty impressive growth in the years to come, if the company can execute.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.