Ascent Solar Technologies
ASTI on Nasdaq. Market value $24m.
Should I look at this?
Look carefully before going further
Why it could be worth it
Nothing stands out yet.
What to watch out for
Read the warning sign in its own filings
This is not advice.
Who owns it
None of the long-term investors we follow own it. 38 funds in all.
Largest holders overall
- Vanguard Capital Management$2mAdded
- Soviero Asset Management, LP$2mNew
- Jane Street Group$2mAdded
- DNB Asset Management AS$1mNew
- UBS Group AG$598,280Cut
- Geode Capital Management$542,541Added
- Morgan Stanley$342,670Added
- BlackRock$324,715Added
- Vanguard Fiduciary Trust$261,060Added
- State Street$259,690Added
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Armistice Capital, LLCPassive investorat least 5.0%−5.0 pts(filed with 1 related holder)Since 31 March 2026
- Mitchell P. KopinPassive investorat least 5.0%−5.0 pts(filed with 2 related holders)Since 31 March 2026
- JANE STREET GROUP, LLCPassive investorat least 3.6%−1.7 pts(filed with 2 related holders)Since 30 June 2026
- Ayrton Capital LLCPassive investorSold down below 5%Since 31 March 2026
- Taylor Ryan BarwickPassive investorSold down below 5%Since 12 June 2026
| Holder | Stake | Since | |
|---|---|---|---|
Armistice Capital, LLC Passive investor | at least 5.0%−5.0 pts (filed with 1 related holder) | 31 March 2026 | |
Mitchell P. Kopin Passive investor | at least 5.0%−5.0 pts (filed with 2 related holders) | 31 March 2026 | |
JANE STREET GROUP, LLC Passive investor | at least 3.6%−1.7 pts (filed with 2 related holders) | 30 June 2026 | |
Ayrton Capital LLC Passive investor | Sold down below 5% | 31 March 2026 | |
Taylor Ryan Barwick Passive investor | Sold down below 5% | 12 June 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $410,862.
- Forrest Reynolds T.DirectorSold
- Date
- 11 September 2026
- Shares
- 22,152
- Price
- $2.89
- Value
- $64,103
- Forrest Reynolds T.DirectorSold
- Date
- 27 August 2026
- Shares
- 5,000
- Price
- $3.10
- Value
- $15,512
- Forrest Reynolds T.DirectorSold
- Date
- 25 August 2026
- Shares
- 4,120
- Price
- $3.05
- Value
- $12,585
- Forrest Reynolds T.DirectorSold
- Date
- 2 June 2026
- Shares
- 5,000
- Price
- $9.45
- Value
- $47,250
- Forrest Reynolds T.DirectorSold
- Date
- 29 May 2026
- Shares
- 7,843
- Price
- $9.15
- Value
- $71,763
- Forrest Reynolds T.DirectorSold
- Date
- 30 December 2025
- Shares
- 521
- Price
- $4.62
- Value
- $2,407
- Forrest Reynolds T.DirectorSold
- Date
- 23 December 2025
- Shares
- 38,827
- Price
- $5.08
- Value
- $197,241
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 11 September 2026 | Forrest Reynolds T. Director | Sold | 22,152 | $2.89 | $64,103 |
| 27 August 2026 | Forrest Reynolds T. Director | Sold | 5,000 | $3.10 | $15,512 |
| 25 August 2026 | Forrest Reynolds T. Director | Sold | 4,120 | $3.05 | $12,585 |
| 2 June 2026 | Forrest Reynolds T. Director | Sold | 5,000 | $9.45 | $47,250 |
| 29 May 2026 | Forrest Reynolds T. Director | Sold | 7,843 | $9.15 | $71,763 |
| 30 December 2025 | Forrest Reynolds T. Director | Sold | 521 | $4.62 | $2,407 |
| 23 December 2025 | Forrest Reynolds T. Director | Sold | 38,827 | $5.08 | $197,241 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
1 serious warning sign in Ascent Solar Technologies’ filings.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Mar 2026, plus the 10-Q filed 6 Aug 2026 and 2 later 8-Ks.
Doubt it can keep going
SeriousThe company or its auditor warned it may not have enough money to last the next year.
“As a result of the Company’s recurring losses from operations, and the need for additional financing to fund its operating and capital requirements, there is uncertainty regarding the Company’s ability to maintain liquidity sufficient to operate its business effectively, which raises substantial doubt as to the Company’s ability to continue as a going concern.”
From the 10-Q filed 6 August 2026, Part I, Item 2. Management's Discussion and Analysis. Read it in the filing
One big customer
Worth knowingOne customer brings in a big share of sales: 52% last year. Losing that customer would hurt.
“For the year ended December 31, 2025, one customer represented 52% of total product revenue.”
From the 10-K filed 20 March 2026, Item 8. Financial Statements and Notes. Read it in the filing
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.