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

Shares of FTC Solar, Inc. (NASDAQ:FTCI) have been given a consensus rating of “Hold” by the seven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.20.

Several analysts have recently weighed in on the stock. TD Cowen lifted their price objective on shares of FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, November 13th. Zacks Research raised shares of FTC Solar from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Roth Capital set a $15.00 price objective on shares of FTC Solar in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of FTC Solar in a research note on Monday, December 29th. Finally, UBS Group reissued a “neutral” rating and set a $10.00 target price (up from $5.50) on shares of FTC Solar in a research report on Tuesday, December 2nd.

FTC Solar Stock Performance

Shares of FTCI stock opened at $11.94 on Friday. FTC Solar has a 52 week low of $2.13 and a 52 week high of $12.64. The company has a market capitalization of $178.38 million, a price-to-earnings ratio of -2.76 and a beta of 1.43. The company has a 50-day simple moving average of $9.76 and a 200 day simple moving average of $7.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.66.

FTC Solar (NASDAQ:FTCI) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.14. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%.The company had revenue of $26.03 million for the quarter, compared to analysts’ expectations of $21.12 million. On average, sell-side analysts predict that FTC Solar will post -3.98 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Sasan Aminpour sold 3,239 shares of FTC Solar stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $10.93, for a total value of $35,402.27. Following the completion of the sale, the chief operating officer owned 269,734 shares of the company’s stock, valued at approximately $2,948,192.62. This trade represents a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yann Brandt sold 37,775 shares of the business’s stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $10.84, for a total value of $409,481.00. Following the sale, the chief executive officer owned 776,425 shares in the company, valued at approximately $8,416,447. The trade was a 4.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 142,660 shares of company stock valued at $1,360,874. 21.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTC Solar

Several institutional investors have recently bought and sold shares of FTCI. 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. Jane Street Group LLC bought a new stake in shares of FTC Solar during the second quarter valued at approximately $79,000. Finally, Vanguard Group Inc. grew its stake in FTC Solar by 18.4% in the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock worth $2,417,000 after purchasing an additional 53,391 shares during the period. 45.36% of the stock is currently owned by hedge funds and other institutional investors.

FTC Solar Company Profile

FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company’s tracker solutions are engineered to follow the sun’s path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.

Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.