FTC Solar (NASDAQ:FTCI) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of FTC Solar (NASDAQ:FTCI – Free Report) from a strong sell rating to a hold rating in a report released on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Zacks Research upgraded shares of FTC Solar to a “hold” rating in a report on Friday, October 23rd. UBS Group upgraded FTC Solar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $3.50 to $3.60 in a report on Friday, September 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FTC Solar in a report on Monday, September 21st. Finally, Roth Capital set a $7.00 price objective on FTC Solar and gave the company a “buy” rating in a research report on Wednesday, August 12th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FTC Solar currently has an average rating of “Moderate Buy” and a consensus target price of $8.90.

View Our Latest Analysis on FTCI

FTC Solar Stock Performance

FTC Solar stock opened at $1.59 on Friday. FTC Solar has a twelve month low of $1.17 and a twelve month high of $12.75. The firm has a market cap of $29.05 million, a PE ratio of -0.31 and a beta of 1.75. The firm’s 50 day moving average price is $1.95 and its two-hundred day moving average price is $4.34.

Insider Buying and Selling

In other FTC Solar news, CEO Anthony Carroll bought 24,745 shares of FTC Solar stock in a transaction on Tuesday, August 25th. The stock was purchased at an average cost of $2.08 per share, for a total transaction of $51,469.60. Following the completion of the purchase, the chief executive officer directly owned 666,200 shares of the company’s stock, valued at $1,385,696. The trade was a 3.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shaker Sadasivam bought 101,083 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was acquired at an average cost of $2.69 per share, with a total value of $271,913.27. Following the completion of the transaction, the director directly owned 255,464 shares of the company’s stock, valued at approximately $687,198.16. This represents a 65.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 198,701 shares of company stock worth $489,308 in the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On FTC Solar

An institutional investor recently raised its position in FTC Solar stock. Renaissance Technologies LLC increased its holdings in FTC Solar, Inc. (NASDAQ:FTCI – Free Report) by 178.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,400 shares of the company’s stock after purchasing an additional 59,800 shares during the period. Renaissance Technologies LLC owned approximately 0.58% of FTC Solar worth $353,000 at the end of the most recent reporting period. Institutional investors own 45.36% of the company’s stock.

FTC Solar Company Profile

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FTC Solar, Inc (NASDAQ: FTCI) provides solar tracker systems, software, and engineering services for utility-scale photovoltaic projects. Its technology is designed to help solar panels follow the sun throughout the day, increasing energy production and supporting more efficient project development and operation.

The company’s offerings include single-axis tracker systems, proprietary tracker-control and optimization software, and related engineering, technical, and installation support.

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