FTC Solar, Inc. (NASDAQ:FTCI) Director Purchases $50,930.00 in Stock

FTC Solar, Inc. (NASDAQ:FTCIGet Free Report) Director Ahmad R. Chatila bought 92,600 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average price of $0.55 per share, with a total value of $50,930.00. Following the completion of the purchase, the director now directly owns 870,058 shares in the company, valued at $478,531.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

FTC Solar Trading Up 13.4 %

Shares of NASDAQ FTCI opened at $0.59 on Thursday. FTC Solar, Inc. has a 12 month low of $0.28 and a 12 month high of $3.87. The company has a 50 day simple moving average of $0.53 and a two-hundred day simple moving average of $0.79. The stock has a market cap of $73.54 million, a price-to-earnings ratio of -1.37 and a beta of 1.60.

FTC Solar (NASDAQ:FTCIGet Free Report) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.01. FTC Solar had a negative net margin of 39.60% and a negative return on equity of 59.79%. The business had revenue of $23.20 million during the quarter, compared to analysts’ expectations of $22.80 million. During the same period in the previous year, the business posted ($0.16) EPS. Analysts forecast that FTC Solar, Inc. will post -0.24 EPS for the current year.

Analyst Ratings Changes

FTCI has been the subject of a number of recent analyst reports. Roth Mkm reiterated a “neutral” rating and issued a $0.45 target price (down from $2.00) on shares of FTC Solar in a research note on Thursday, March 14th. Roth Capital cut shares of FTC Solar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. HC Wainwright lowered their target price on shares of FTC Solar from $2.50 to $1.50 and set a “buy” rating for the company in a research note on Thursday, March 14th. Finally, Northland Securities lifted their target price on shares of FTC Solar from $0.65 to $1.00 and gave the stock a “market perform” rating in a research note on Friday, December 15th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $1.49.

Read Our Latest Report on FTC Solar

Hedge Funds Weigh In On FTC Solar

Institutional investors have recently made changes to their positions in the company. Mariner LLC purchased a new position in shares of FTC Solar during the 4th quarter valued at approximately $27,000. State of Wyoming purchased a new stake in FTC Solar in the 2nd quarter worth $33,000. Cambridge Investment Research Advisors Inc. acquired a new position in FTC Solar during the first quarter worth $52,000. FMR LLC raised its position 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 acquiring an additional 10,621 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in FTC Solar during the second quarter worth $42,000. 45.36% of the stock is owned by hedge funds and other institutional investors.

FTC Solar Company Profile

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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.

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

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