FTC Solar, Inc. (NASDAQ:FTCI) Given Consensus Rating of “Hold” by Analysts

FTC Solar, Inc. (NASDAQ:FTCI) has earned a consensus rating of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.13.

Separately, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of FTC Solar in a research report on Wednesday, November 13th.

Insider Activity

In other news, CEO Yann Brandt purchased 31,450 shares of FTC Solar stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $3.12 per share, for a total transaction of $98,124.00. Following the transaction, the chief executive officer now owns 691,700 shares in the company, valued at $2,158,104. The trade was a 4.76 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 22.60% of the stock is currently owned by company insiders.

Institutional Trading of FTC Solar

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FTC Solar during the second quarter worth approximately $42,000. 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 acquiring an additional 83,334 shares in the last quarter. Geode Capital Management LLC boosted its position in FTC Solar by 9.2% during the third quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock valued at $522,000 after purchasing an additional 64,325 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in FTC Solar in the third quarter valued at about $81,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.

FTC Solar Trading Down 1.5 %

Shares of NASDAQ:FTCI opened at $3.29 on Friday. FTC Solar has a twelve month low of $1.76 and a twelve month high of $9.56. The firm has a market cap of $42.04 million, a P/E ratio of -0.87 and a beta of 1.56. The company has a 50 day moving average of $4.56 and a 200-day moving average of $4.12.

FTC Solar Company Profile

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.