FTC Solar, Inc. (NASDAQ:FTCI – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $1.11.
A number of analysts have issued reports on FTCI shares. UBS Group dropped their price target on FTC Solar from $0.50 to $0.30 and set a “neutral” rating on the stock in a research report on Friday, August 9th. TD Cowen dropped their target price on shares of FTC Solar from $1.50 to $1.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.
View Our Latest Stock Report on FTC Solar
Insider Buying and Selling at FTC Solar
Institutional Investors Weigh In On FTC Solar
Several institutional investors and hedge funds have recently made changes to their positions in FTCI. Fifth Lane Capital LP boosted its position in FTC Solar by 200.0% in the first quarter. Fifth Lane Capital LP now owns 75,000 shares of the company’s stock valued at $40,000 after buying an additional 50,000 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of FTC Solar by 527.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after acquiring an additional 83,334 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of FTC Solar in the 2nd quarter worth approximately $42,000. TTP Investments Inc. bought a new stake in FTC Solar during the 1st quarter worth approximately $80,000. Finally, GSA Capital Partners LLP increased its holdings in FTC Solar by 162.2% during the 1st quarter. GSA Capital Partners LLP now owns 1,923,411 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,189,960 shares in the last quarter. Institutional investors and hedge funds own 45.36% of the company’s stock.
FTC Solar Stock Performance
NASDAQ FTCI opened at $0.52 on Friday. FTC Solar has a 1 year low of $0.18 and a 1 year high of $1.49. The company has a fifty day simple moving average of $0.36 and a 200 day simple moving average of $0.42. The company has a market cap of $65.32 million, a P/E ratio of -1.33 and a beta of 1.76.
FTC Solar (NASDAQ:FTCI – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $11.43 million during the quarter, compared to analysts’ expectations of $13.09 million. FTC Solar had a negative net margin of 63.17% and a negative return on equity of 75.67%. Equities research analysts forecast that FTC Solar will post -0.32 EPS for the current fiscal year.
FTC Solar Company Profile
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.
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