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

Shares of FTC Solar, Inc. (NASDAQ:FTCI) have been given an average rating of “Hold” by the six ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $5.90.

FTCI has been the topic of several research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $5.50 price target (up from $3.80) on shares of FTC Solar in a research report on Monday, August 18th. TD Cowen raised their price target on shares of FTC Solar from $8.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research cut FTC Solar from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of FTC Solar in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On FTC Solar

Several large investors have recently modified their holdings of FTCI. Vanguard Group Inc. lifted its position in shares of FTC Solar by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock worth $2,417,000 after buying an additional 53,391 shares during the period. Jane Street Group LLC acquired a new stake in shares of FTC Solar during the second quarter worth approximately $79,000. Finally, Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 13,715 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors.

FTC Solar Price Performance

NASDAQ FTCI opened at $10.61 on Thursday. The company has a market cap of $157.88 million, a P/E ratio of -2.71 and a beta of 1.46. FTC Solar has a 1 year low of $2.13 and a 1 year high of $11.40. The company has a current ratio of 1.16, a quick ratio of 1.04 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $7.80 and a 200 day simple moving average of $5.80.

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.