Yann Brandt Acquires 31,450 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt acquired 31,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $3.12 per share, for a total transaction of $98,124.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,700 shares of the company’s stock, valued at $2,158,104. This trade represents a 4.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

FTC Solar Price Performance

NASDAQ:FTCI traded up $0.18 during trading hours on Monday, reaching $3.20. 41,797 shares of the stock were exchanged, compared to its average volume of 250,637. FTC Solar, Inc. has a twelve month low of $1.76 and a twelve month high of $9.56. The stock has a market cap of $40.89 million, a PE ratio of -0.79 and a beta of 1.56. The firm has a 50 day moving average of $4.61 and a 200 day moving average of $4.14.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of FTC Solar during the 2nd quarter worth about $42,000. XTX Topco Ltd bought a new position in shares of FTC Solar in the third quarter valued at $81,000. Mercer Global Advisors Inc. ADV increased its holdings in FTC Solar by 527.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after buying an additional 83,334 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in FTC Solar by 9.2% during the third quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock worth $522,000 after acquiring an additional 64,325 shares in the last quarter. Institutional investors and hedge funds own 45.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of FTC Solar in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.13.

About FTC Solar

FTC Solar, Inc engages in the provision of solar tracker systems, software, and engineering services in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company offers a self-powered, two-panel in-portrait, and single-axis tracker solution under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name.