FTC Solar (NASDAQ:FTCI) Given New $3.50 Price Target at UBS Group

FTC Solar (NASDAQ:FTCI) had its target price lowered by UBS Group from $4.00 to $3.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 18.64% from the stock’s previous close.

Separately, Roth Mkm raised their price objective on shares of FTC Solar from $0.50 to $3.00 and gave the company a “neutral” rating in a research report on Tuesday.

FTC Solar Stock Performance

NASDAQ FTCI opened at $2.95 on Wednesday. FTC Solar has a 12 month low of $1.76 and a 12 month high of $7.40. The stock has a market cap of $37.92 million, a price-to-earnings ratio of -0.78 and a beta of 1.26. The company’s 50 day moving average is $3.16 and its two-hundred day moving average is $4.14.

Insider Activity at FTC Solar

In other FTC Solar news, Director Ahmad R. Chatila purchased 16,740 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was acquired at an average cost of $2.93 per share, for a total transaction of $49,048.20. Following the purchase, the director now directly owns 1,984,708 shares of the company’s stock, valued at $5,815,194.44. This trade represents a 0.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On FTC Solar

An institutional investor recently bought a new position in FTC Solar stock. XTX Topco Ltd bought a new stake in shares of FTC Solar, Inc. (NASDAQ:FTCI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 118,830 shares of the company’s stock, valued at approximately $81,000. XTX Topco Ltd owned approximately 0.09% of FTC Solar as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 45.36% of the company’s stock.

About FTC Solar

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.