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June 6, 2006 Stock Pick: Ascent Solar Technologies, Inc. (ASTI)

Stock Price: $7.49

Ascent Solar Technologies, Inc. is a developer of state-of-the-art, thin-film photovoltaic modules. The company is located in Littleton, Colorado.

ASTI is constructing a production plant for its thin-film photovoltaic systems used in solar panels. The company plans on a capacity of photovoltaic cells capable of generating 1.5 megawatts worth of power by early 2008 then increase production to 100 megawatts as demand grows.

In mid-March, Norsk Hydro, a $43 billion company invested $9.2 million in ASTI. This shows significant confidence in ASTI from a major company who wants to be a major player in the alternative energy space.

ASTI has $17.45 million in cash and short-term investments and zero long-term debt. The company has total liabilities of only $0.71 million. For a company trading at a market cap of only $56.81 million, this is one of the cleanest balance sheets we have seen in this market cap range.

We believe ASTI has huge upside from its current price. There are only 5.10 million shares in the ASTI float. We have purchased shares of ASTI. Opinion: $35.00 within 12 - 24 months.

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