Insider Selling: FTC Solar, Inc. (NASDAQ:FTCI) VP Sells $33,000.00 in Stock

FTC Solar, Inc. (NASDAQ:FTCI) VP Kristian Nolde sold 20,000 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $1.65, for a total value of $33,000.00. Following the sale, the vice president now owns 348,718 shares in the company, valued at approximately $575,384.70. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kristian Nolde also recently made the following trade(s):

• On Friday, September 8th, Kristian Nolde sold 20,000 shares of FTC Solar stock. The shares were sold at an average price of $1.70, for a total value of $34,000.00.

FTC Solar Trading Up 4.5 %

Shares of FTCI stock opened at $1.38 on Friday. FTC Solar, Inc. has a 1-year low of $1.30 and a 1-year high of $4.38. The firm’s 50-day simple moving average is $2.61 and its 200-day simple moving average is $2.66.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On FTC Solar

A number of large investors have recently modified their holdings of FTCI. Mariner LLC acquired a new stake in FTC Solar during the 4th quarter worth approximately $27,000. FMR LLC grew its stake in FTC Solar by 873.4% during the first quarter. FMR LLC now owns 11,837 shares of the company’s stock worth $27,000 after buying an additional 10,621 shares during the period. Iridian Asset Management LLC CT acquired a new stake in shares of FTC Solar in the first quarter worth $29,000. Allspring Global Investments Holdings LLC raised its stake in shares of FTC Solar by 191.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,172 shares of the company’s stock valued at $30,000 after acquiring an additional 8,655 shares during the period. Finally, State of Wyoming acquired a new position in shares of FTC Solar during the 2nd quarter valued at $33,000. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

About FTC Solar

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.