FTC Solar, Inc. (NASDAQ:FTCI) Major Shareholder Sells $300,720.00 in Stock

FTC Solar, Inc. (NASDAQ:FTCIGet Rating) major shareholder Arc Family Trust sold 84,000 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $3.58, for a total value of $300,720.00. Following the completion of the transaction, the insider now owns 17,893,357 shares of the company’s stock, valued at $64,058,218.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Arc Family Trust also recently made the following trade(s):

  • On Monday, September 19th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $3.77, for a total value of $188,500.00.
  • On Wednesday, September 14th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.28, for a total value of $214,000.00.
  • On Monday, September 12th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.17, for a total value of $208,500.00.
  • On Thursday, September 8th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.27, for a total value of $213,500.00.
  • On Monday, August 29th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.31, for a total value of $215,500.00.
  • On Wednesday, August 24th, Arc Family Trust sold 84,000 shares of FTC Solar stock. The stock was sold at an average price of $4.61, for a total value of $387,240.00.
  • On Monday, August 22nd, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.20, for a total value of $210,000.00.
  • On Wednesday, August 17th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $4.65, for a total value of $232,500.00.
  • On Monday, August 15th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $5.19, for a total value of $259,500.00.
  • On Wednesday, August 10th, Arc Family Trust sold 84,000 shares of FTC Solar stock. The shares were sold at an average price of $5.30, for a total value of $445,200.00.

FTC Solar Price Performance

FTCI traded down $0.16 on Friday, reaching $3.17. The company’s stock had a trading volume of 950,927 shares, compared to its average volume of 1,188,125. The stock has a market cap of $322.63 million, a price-to-earnings ratio of -3.09 and a beta of 3.33. FTC Solar, Inc. has a 1 year low of $2.12 and a 1 year high of $11.20. The business’s 50 day moving average is $4.35 and its 200 day moving average is $4.34.

FTC Solar (NASDAQ:FTCIGet Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. FTC Solar had a negative return on equity of 66.38% and a negative net margin of 42.67%. The company had revenue of $30.72 million for the quarter, compared to the consensus estimate of $33.28 million. As a group, research analysts forecast that FTC Solar, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FTCI has been the subject of a number of recent research reports. Piper Sandler upgraded FTC Solar from an “underweight” rating to a “neutral” rating and increased their target price for the company from $2.00 to $3.50 in a research note on Tuesday, July 19th. UBS Group increased their target price on FTC Solar to $8.00 in a research note on Thursday, June 9th. Raymond James lowered their target price on FTC Solar from $7.00 to $6.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 12th. Finally, Roth Capital raised FTC Solar from a “neutral” rating to a “buy” rating in a report on Monday, June 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.05.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rock Point Advisors LLC bought a new position in FTC Solar during the 1st quarter worth approximately $1,674,000. Heartland Advisors Inc. lifted its holdings in FTC Solar by 60.0% during the 1st quarter. Heartland Advisors Inc. now owns 400,000 shares of the company’s stock worth $1,972,000 after buying an additional 150,000 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in FTC Solar during the 4th quarter worth approximately $163,000. Cinctive Capital Management LP lifted its holdings in FTC Solar by 118.8% during the 4th quarter. Cinctive Capital Management LP now owns 1,754,492 shares of the company’s stock worth $13,264,000 after buying an additional 952,493 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of FTC Solar during the 1st quarter worth approximately $26,000. Institutional investors own 25.09% of the company’s stock.

About FTC Solar

(Get Rating)

FTC Solar, Inc provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites.

Featured Stories

Insider Buying and Selling by Quarter for FTC Solar (NASDAQ:FTCI)

Receive News & Ratings for FTC Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTC Solar and related companies with MarketBeat.com's FREE daily email newsletter.