In yesterday’s Wall Street session, FTC Solar Inc. (NASDAQ:FTCI) shares traded at $2.22, down -3.48% from the previous session.
8 analysts cover FTC Solar Inc. (NASDAQ:FTCI), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $9.00 and a low of $2.50, we find $4.00. Given the previous closing price of $2.30, this indicates a potential upside of 73.91 percent. FTCI stock price is now -27.56% away from the 50-day moving average and -17.48% away from the 200-day moving average. The market capitalization of the company currently stands at $250.46M.
The stock has received a hold rating from 1 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $4.47 as their price target over the next twelve months.
With the price target of $5, H.C. Wainwright recently initiated with Buy rating for FTC Solar Inc. (NASDAQ: FTCI).
In other news, ARC Family Trust, 10% Owner sold 50,000 shares of the company’s stock on Aug 09. The stock was sold for $126,000 at an average price of $2.52. Upon completion of the transaction, the 10% Owner now directly owns 12,640,857 shares in the company, valued at $28.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 08, 10% Owner ARC Family Trust sold 50,000 shares of the business’s stock. A total of $169,000 was realized by selling the stock at an average price of $3.38. This leaves the insider owning 12,690,857 shares of the company worth $28.17 million. Insiders disposed of 8,093,663 shares of company stock worth roughly $17.97 million over the past 1 year. A total of 11.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FTCI stock. A new stake in FTC Solar Inc. shares was purchased by COVALIS CAPITAL LLP during the first quarter worth $811,000. POINT72 ASSET MANAGEMENT, L.P. invested $666,000 in shares of FTCI during the first quarter. In the first quarter, MITSUBISHI UFJ KOKUSAI ASSET MANAGEMENT CO., LTD. acquired a new stake in FTC Solar Inc. valued at approximately $443,000. HAREL INSURANCE INVESTMENTS & FINANCIAL SERVICES LTD. acquired a new stake in FTCI for approximately $355,000. GARNET EQUITY CAPITAL HOLDINGS, INC. purchased a new stake in FTCI valued at around $311,000 in the second quarter. In total, there are 119 active investors with 29.80% ownership of the company’s stock.
On Thursday morning FTC Solar Inc. (NASDAQ: FTCI) stock kicked off with the opening price of $2.3300. During the past 12 months, FTC Solar Inc. has had a low of $1.78 and a high of $5.66. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.90, and a quick ratio of 1.80. The fifty day moving average price for FTCI is $3.0553 and a two-hundred day moving average price translates $2.6909 for the stock.
The latest earnings results from FTC Solar Inc. (NASDAQ: FTCI) was released for Mar, 2023. According to the Solar Company, earnings per share came in at -$0.06, missing analysts’ expectations of -$0.04 by -0.02. This compares to -$0.26 EPS in the same period last year. The net profit margin was -73.10% and return on equity was -105.70% for FTCI. The company reported revenue of $32.36 million for the quarter, compared to $30.72 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.33 percent. For the current quarter, analysts expect FTCI to generate $68.47M in revenue.
FTC Solar Inc.(FTCI) Company Profile
FTC Solar, Inc. provides solar tracker systems, software, and engineering services in the United States and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides Pioneer, a one module-in-portrait solar tracker solution that allows for a pile count reduction per megawatt. Its customers include project developers; solar asset owners; and engineering, procurement, and construction contractors that design and build solar energy projects. FTC Solar, Inc. was incorporated in 2017 and is headquartered in Austin, Texas.
