FTC Solar, Inc. (NASDAQ:FTCI) Given Average Recommendation of “Hold” by Brokerages

FTC Solar, Inc. (NASDAQ:FTCIGet Free Report) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.50.

A number of equities analysts have weighed in on FTCI shares. Wall Street Zen downgraded FTC Solar from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. TD Cowen lowered their price objective on shares of FTC Solar from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Roth Capital set a $7.00 price objective on shares of FTC Solar and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FTC Solar in a report on Wednesday, June 24th.

Get Our Latest Stock Analysis on FTC Solar

Institutional Investors Weigh In On FTC Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTCI. Mercer Global Advisors Inc. ADV acquired a new position in shares of FTC Solar during the 4th quarter worth about $109,000. Hudson Bay Capital Management LP acquired a new stake in shares of FTC Solar in the fourth quarter valued at about $135,000. Jane Street Group LLC acquired a new stake in shares of FTC Solar in the fourth quarter valued at about $135,000. Laurel Oak Wealth Management LLC bought a new stake in FTC Solar during the first quarter worth about $60,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in FTC Solar during the fourth quarter worth about $296,000. 45.36% of the stock is owned by institutional investors.

FTC Solar Stock Performance

Shares of FTC Solar stock opened at $2.34 on Friday. The business’s 50 day simple moving average is $4.05 and its 200 day simple moving average is $5.27. FTC Solar has a 52-week low of $2.28 and a 52-week high of $12.75. The firm has a market cap of $38.66 million, a PE ratio of -0.37 and a beta of 1.87.

FTC Solar Company Profile

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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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Analyst Recommendations for FTC Solar (NASDAQ:FTCI)

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