Shares of FTC Solar, Inc. (NASDAQ:FTCI – Get Free Report) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $1.49.
FTCI has been the topic of several recent analyst reports. Roth Mkm reiterated a “neutral” rating and issued a $0.45 price target (down previously from $2.00) on shares of FTC Solar in a research note on Thursday, March 14th. HC Wainwright reiterated a “buy” rating and issued a $1.50 target price on shares of FTC Solar in a research report on Monday, May 13th. Finally, Roth Capital downgraded FTC Solar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th.
View Our Latest Research Report on FTC Solar
FTC Solar Stock Up 0.0 %
FTC Solar (NASDAQ:FTCI – Get Free Report) last issued its quarterly earnings results on Wednesday, March 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. FTC Solar had a negative net margin of 47.92% and a negative return on equity of 63.07%. During the same quarter in the prior year, the firm posted ($0.16) EPS. Sell-side analysts anticipate that FTC Solar will post -0.32 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Director Ahmad R. Chatila purchased 101,800 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were purchased at an average cost of $0.49 per share, with a total value of $49,882.00. Following the completion of the purchase, the director now owns 684,958 shares of the company’s stock, valued at approximately $335,629.42. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FTC Solar news, Director Ahmad R. Chatila acquired 97,400 shares of FTC Solar stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $0.51 per share, with a total value of $49,674.00. Following the completion of the purchase, the director now directly owns 967,458 shares in the company, valued at approximately $493,403.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ahmad R. Chatila acquired 101,800 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was bought at an average price of $0.49 per share, with a total value of $49,882.00. Following the completion of the acquisition, the director now directly owns 684,958 shares of the company’s stock, valued at $335,629.42. The disclosure for this purchase can be found here. Insiders bought a total of 384,300 shares of company stock valued at $200,436 in the last 90 days. Corporate insiders own 23.10% of the company’s stock.
Institutional Investors Weigh In On FTC Solar
A number of institutional investors have recently made changes to their positions in FTCI. Connors Investor Services Inc. bought a new stake in FTC Solar in the third quarter valued at approximately $64,000. SG Americas Securities LLC acquired a new stake in shares of FTC Solar during the fourth quarter worth $35,000. Fifth Lane Capital LP raised its stake in 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 buying an additional 50,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in FTC Solar by 165.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 127,859 shares of the company’s stock valued at $164,000 after buying an additional 79,695 shares during the period. Finally, TTP Investments Inc. acquired a new position in FTC Solar in the first quarter valued at $80,000. Institutional investors own 45.36% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than FTC Solar
- How to Start Investing in Real Estate
- MarketBeat Week in Review – 5/20 – 5/24
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- NASDAQ 100 vs. NASDAQ Composite: A Detailed Breakdown of NASDAQ
- What is a Bond Market Holiday? How to Invest and Trade
- These 2 Retail Traders Favorites are Nearing Major Breakouts
Receive News & Ratings for FTC Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTC Solar and related companies with MarketBeat.com's FREE daily email newsletter.