FTC Solar (NASDAQ:FTCI) Price Target Lowered to $3.50 at UBS Group

FTC Solar (NASDAQ:FTCI) had its price objective trimmed by UBS Group from $4.00 to $3.50 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Roth Mkm upped their price objective on shares of FTC Solar from $0.50 to $3.00 and gave the company a “neutral” rating in a report on Tuesday.

FTC Solar Price Performance

Shares of FTCI stock opened at $2.95 on Wednesday. The stock’s fifty day moving average price is $3.19 and its 200 day moving average price is $4.15. FTC Solar has a 1-year low of $1.76 and a 1-year high of $7.40. The company has a market cap of $37.92 million, a price-to-earnings ratio of -0.78 and a beta of 1.26.

Hedge Funds Weigh In On FTC Solar

An institutional investor recently raised its position in FTC Solar stock. Geode Capital Management LLC lifted its position in FTC Solar, Inc. (NASDAQ:FTCI) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 766,863 shares of the company’s stock after purchasing an additional 64,325 shares during the quarter. Geode Capital Management LLC owned about 0.60% of FTC Solar worth $522,000 as of its most recent SEC filing. 45.36% of the stock is owned by institutional investors.

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.