Shares of FTC Solar, Inc. (NASDAQ:FTCI – Get Free Report) have received an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.50.
A number of analysts have weighed in on the stock. TD Cowen decreased their target price on shares of FTC Solar from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of FTC Solar in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded shares of FTC Solar from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th.
Read Our Latest Report on FTC Solar
Insider Activity at FTC Solar
Hedge Funds Weigh In On FTC Solar
Large investors have recently modified their holdings of the company. Laurel Oak Wealth Management LLC bought a new position in shares of FTC Solar in the 1st quarter worth $60,000. Jane Street Group LLC bought a new position in shares of FTC Solar in the 2nd quarter worth $79,000. Goldman Sachs Group Inc. lifted its holdings in shares of FTC Solar by 81.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock worth $88,000 after purchasing an additional 13,715 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of FTC Solar in the 4th quarter worth $109,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of FTC Solar in the 4th quarter worth $135,000. 45.36% of the stock is currently owned by institutional investors.
FTC Solar Price Performance
Shares of NASDAQ FTCI opened at $4.33 on Thursday. The company has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $7.99. The firm has a market cap of $69.28 million, a PE ratio of -0.75 and a beta of 1.81. FTC Solar has a 1 year low of $3.20 and a 1 year high of $12.75.
FTC Solar (NASDAQ:FTCI – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.26). The business had revenue of $17.27 million during the quarter, compared to the consensus estimate of $24.26 million. FTC Solar had a negative net margin of 42.12% and a negative return on equity of 549.96%. As a group, research analysts anticipate that FTC Solar will post -1.56 earnings per share for the current fiscal year.
FTC Solar Company Profile
FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company’s tracker solutions are engineered to follow the sun’s path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.
Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.
Featured Articles
- Five stocks we like better than FTC Solar
- D-Wave Earnings Looked Weak, But Investors May Be Missing This
- Nebius Upside Expands as AI Feedback Loop Intensifies
- Insider Trades: Okta and Abbott See Buys, Micron Insiders Sell
- Plug Power Flips The Switch On Profitability
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.
