FTC Solar (NASDAQ:FTCI) Director Anthony Carroll Acquires 10,638 Shares of Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Anthony Carroll bought 10,638 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were acquired at an average price of $9.53 per share, for a total transaction of $101,380.14. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at approximately $230,673.65. This trade represents a 78.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

FTC Solar Price Performance

FTCI opened at $9.96 on Friday. FTC Solar, Inc. has a 52 week low of $2.13 and a 52 week high of $11.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.66. The firm has a market capitalization of $148.80 million, a PE ratio of -2.30 and a beta of 1.45. The company has a fifty day moving average price of $8.95 and a two-hundred day moving average price of $6.83.

FTC Solar (NASDAQ:FTCI) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.14. The business had revenue of $26.03 million during the quarter, compared to the consensus estimate of $21.12 million. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%. As a group, analysts anticipate that FTC Solar, Inc. will post -3.98 earnings per share for the current year.

Hedge Funds Weigh In On FTC Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTCI. Vanguard Group Inc. lifted its stake in shares of FTC Solar by 18.4% in the 3rd quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock valued at $2,417,000 after acquiring an additional 53,391 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of FTC Solar by 81.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock worth $88,000 after purchasing an additional 13,715 shares during the period. Finally, Jane Street Group LLC bought a new stake in FTC Solar during the second quarter valued at $79,000. Institutional investors own 45.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FTCI shares. Roth Capital set a $15.00 target price on FTC Solar in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FTC Solar in a research report on Monday. UBS Group reaffirmed a “neutral” rating and issued a $10.00 target price (up from $5.50) on shares of FTC Solar in a report on Tuesday, December 2nd. TD Cowen increased their price target on FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, Zacks Research upgraded shares of FTC Solar from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.20.

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.