FTC Solar, Inc. (NASDAQ:FTCI – Get Free Report) Director Shaker Sadasivam purchased 39,583 shares of the stock in a transaction dated Thursday, August 27th. The stock was acquired at an average price of $2.35 per share, for a total transaction of $93,020.05. Following the completion of the transaction, the director directly owned 154,381 shares of the company’s stock, valued at approximately $362,795.35. The trade was a 34.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shaker Sadasivam also recently made the following trade(s):
- On Wednesday, August 26th, Shaker Sadasivam acquired 33,290 shares of FTC Solar stock. The shares were bought at an average price of $2.19 per share, with a total value of $72,905.10.
FTC Solar Price Performance
NASDAQ:FTCI traded down $0.20 during trading hours on Monday, reaching $2.35. 290,814 shares of the company traded hands, compared to its average volume of 166,046. The firm’s 50-day moving average is $3.57 and its 200-day moving average is $4.67. The stock has a market cap of $38.82 million, a P/E ratio of -0.38 and a beta of 1.87. FTC Solar, Inc. has a 1-year low of $1.99 and a 1-year high of $12.75.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of analysts recently commented on FTCI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FTC Solar in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of FTC Solar from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Roth Capital set a $7.00 target price on shares of FTC Solar and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, TD Cowen decreased their price target on shares of FTC Solar from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.50.
Read Our Latest Research Report on FTC Solar
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.
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