FTC Solar, Inc. (NASDAQ:FTCI) Director Buys $25,000.00 in Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila bought 100,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $0.25 per share, with a total value of $25,000.00. Following the completion of the purchase, the director now directly owns 1,603,046 shares of the company’s stock, valued at approximately $400,761.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

FTC Solar Price Performance

NASDAQ FTCI opened at $0.26 on Wednesday. FTC Solar, Inc. has a 12 month low of $0.18 and a 12 month high of $2.11. The company has a market capitalization of $32.60 million, a price-to-earnings ratio of -0.67 and a beta of 1.59. The company’s fifty day moving average price is $0.35 and its two-hundred day moving average price is $0.45.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FTCI. HC Wainwright restated a “buy” rating and issued a $1.50 target price on shares of FTC Solar in a research note on Monday, May 13th. TD Cowen decreased their target price on shares of FTC Solar from $1.50 to $1.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, UBS Group decreased their target price on shares of FTC Solar from $0.50 to $0.30 and set a “neutral” rating for the company in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, FTC Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $1.11.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FTCI. Mercer Global Advisors Inc. ADV raised its holdings in shares of FTC Solar by 527.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after purchasing an additional 83,334 shares during the period. Fifth Lane Capital LP raised its holdings in shares of FTC Solar by 200.0% during the first quarter. Fifth Lane Capital LP now owns 75,000 shares of the company’s stock worth $40,000 after purchasing an additional 50,000 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FTC Solar during the second quarter worth $42,000. TTP Investments Inc. acquired a new stake in shares of FTC Solar during the first quarter worth $80,000. Finally, GSA Capital Partners LLP raised its holdings in shares of FTC Solar by 162.2% during the first quarter. GSA Capital Partners LLP now owns 1,923,411 shares of the company’s stock worth $1,037,000 after purchasing an additional 1,189,960 shares during the period. 45.36% of the stock is currently owned by institutional investors.

About FTC Solar

FTC Solar, Inc engages in the provision of solar tracker systems, software, and engineering services in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company offers a self-powered, two-panel in-portrait, and single-axis tracker solution under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name.