FTC Solar, Inc. (NASDAQ:FTCI – Get Free Report) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.90.
A number of research analysts have issued reports on FTCI shares. Weiss Ratings restated a “sell (d-)” rating on shares of FTC Solar in a report on Monday, September 21st. Zacks Research raised shares of FTC Solar to a “hold” rating in a research note on Friday, October 23rd. Wall Street Zen lowered shares of FTC Solar from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. UBS Group raised FTC Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.50 to $3.60 in a research note on Friday, September 18th. Finally, Roth Capital set a $7.00 price objective on shares of FTC Solar and gave the company a “buy” rating in a research note on Wednesday, August 12th.
View Our Latest Stock Report on FTC Solar
FTC Solar Stock Performance
FTC Solar stock opened at $1.38 on Thursday. FTC Solar has a fifty-two week low of $1.27 and a fifty-two week high of $12.75. The company has a market capitalization of $25.21 million, a price-to-earnings ratio of -0.22 and a beta of 1.75. The stock has a fifty day moving average of $2.00 and a two-hundred day moving average of $4.49.
Insider Buying and Selling
In other FTC Solar news, CEO Anthony Carroll acquired 24,745 shares of the stock in a transaction on Tuesday, August 25th. The stock was purchased at an average price of $2.08 per share, for a total transaction of $51,469.60. Following the purchase, the chief executive officer directly owned 666,200 shares in the company, valued at $1,385,696. This trade represents a 3.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shaker Sadasivam purchased 101,083 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $2.69 per share, with a total value of $271,913.27. Following the purchase, the director owned 255,464 shares of the company’s stock, valued at approximately $687,198.16. The trade was a 65.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 198,701 shares of company stock valued at $489,308. 19.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On FTC Solar
A hedge fund recently raised its position in FTC Solar stock. Renaissance Technologies LLC raised its stake in FTC Solar, Inc. (NASDAQ:FTCI – Free Report) by 178.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,400 shares of the company’s stock after acquiring an additional 59,800 shares during the period. Renaissance Technologies LLC owned 0.58% of FTC Solar worth $353,000 as of its most recent SEC filing. Institutional investors own 45.36% of the company’s stock.
About FTC Solar
FTC Solar, Inc (NASDAQ: FTCI) provides solar tracker systems, software, and engineering services for utility-scale photovoltaic projects. Its technology is designed to help solar panels follow the sun throughout the day, increasing energy production and supporting more efficient project development and operation.
The company’s offerings include single-axis tracker systems, proprietary tracker-control and optimization software, and related engineering, technical, and installation support.
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