FTC Solar, Inc. (NASDAQ:FTCI) Director William A. Priddy Acquires 17,000 Shares of Stock

FTC Solar, Inc. (NASDAQ:FTCIGet Free Report) Director William A. Priddy acquired 17,000 shares of the stock in a transaction on Thursday, September 14th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $24,310.00. Following the completion of the transaction, the director now directly owns 357,032 shares in the company, valued at approximately $510,555.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

FTC Solar Price Performance

NASDAQ FTCI opened at $1.38 on Friday. The firm has a 50-day moving average price of $2.61 and a 200 day moving average price of $2.66. FTC Solar, Inc. has a 52-week low of $1.30 and a 52-week high of $4.38.

FTC Solar (NASDAQ:FTCIGet Free Report) last released its quarterly earnings results on Wednesday, August 9th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The business had revenue of $32.36 million for the quarter, compared to analyst estimates of $47.82 million. FTC Solar had a negative net margin of 58.87% and a negative return on equity of 86.64%. On average, analysts predict that FTC Solar, Inc. will post -0.36 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on FTCI shares. UBS Group downgraded shares of FTC Solar from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.00 to $2.50 in a research note on Tuesday, August 15th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of FTC Solar in a research report on Thursday, August 10th. Finally, Piper Sandler lowered their target price on FTC Solar from $3.00 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, August 10th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, FTC Solar presently has an average rating of “Moderate Buy” and an average target price of $3.93.

Get Our Latest Analysis on FTC Solar

Hedge Funds Weigh In On FTC Solar

A number of large investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in FTC Solar by 4.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 90,749 shares of the company’s stock worth $447,000 after acquiring an additional 3,652 shares during the period. Deutsche Bank AG boosted its position in shares of FTC Solar by 16.8% during the first quarter. Deutsche Bank AG now owns 27,730 shares of the company’s stock worth $62,000 after buying an additional 3,997 shares during the period. ARS Investment Partners LLC increased its holdings in shares of FTC Solar by 4.5% during the first quarter. ARS Investment Partners LLC now owns 117,300 shares of the company’s stock valued at $264,000 after purchasing an additional 5,000 shares during the period. California State Teachers Retirement System raised its position in shares of FTC Solar by 32.7% during the 2nd quarter. California State Teachers Retirement System now owns 21,163 shares of the company’s stock worth $68,000 after buying an additional 5,217 shares in the last quarter. Finally, UBS Group AG lifted its position in FTC Solar by 41.6% in the third quarter. UBS Group AG now owns 18,462 shares of the company’s stock worth $55,000 after purchasing an additional 5,428 shares during the period. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

FTC Solar Company Profile

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FTC Solar, Inc provides solar tracker systems, software, and engineering services in the United States and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides Pioneer, a one module-in-portrait solar tracker solution that allows for a pile count reduction per megawatt.

Further Reading

Insider Buying and Selling by Quarter for FTC Solar (NASDAQ:FTCI)

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