FTC Solar, Inc. (NASDAQ:FTCI - Get Free Report) Director Ahmad R. Chatila bought 97,400 shares of the firm's stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average cost of $0.51 per share, with a total value of $49,674.00. Following the completion of the transaction, the director now directly owns 967,458 shares in the company, valued at $493,403.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.
FTC Solar Stock Performance
Shares of FTCI stock opened at $0.59 on Thursday. The firm's 50 day moving average is $0.53 and its 200 day moving average is $0.79. FTC Solar, Inc. has a 12-month low of $0.28 and a 12-month high of $3.87.
FTC Solar (NASDAQ:FTCI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.01. The business had revenue of $23.20 million for the quarter, compared to analysts' expectations of $22.80 million. FTC Solar had a negative return on equity of 59.79% and a negative net margin of 39.60%. During the same period last year, the firm earned ($0.16) earnings per share. On average, analysts predict that FTC Solar, Inc. will post -0.24 earnings per share for the current year.
Institutional Trading of FTC Solar
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Several hedge funds have recently modified their holdings of FTCI. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of 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 buying an additional 3,652 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of FTC Solar by 16.8% in the 1st quarter. Deutsche Bank AG now owns 27,730 shares of the company's stock worth $62,000 after purchasing an additional 3,997 shares during the period. California State Teachers Retirement System increased 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 valued at $68,000 after purchasing an additional 5,217 shares during the last quarter. UBS Group AG boosted its stake in FTC Solar by 41.6% during the third quarter. UBS Group AG now owns 18,462 shares of the company's stock worth $55,000 after buying an additional 5,428 shares during the period. Finally, PDT Partners LLC lifted its holdings in shares of FTC Solar by 14.6% in the 2nd quarter. PDT Partners LLC now owns 78,352 shares of the company's stock worth $284,000 after acquiring an additional 9,955 shares during the last quarter. 45.36% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
FTCI has been the subject of several recent analyst reports. Northland Securities upped 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. HC Wainwright dropped their price objective on shares of FTC Solar from $2.50 to $1.50 and set a "buy" rating on the stock in a report on Thursday, March 14th. Roth Mkm reaffirmed a "neutral" rating and set a $0.45 price objective (down previously from $2.00) on shares of FTC Solar in a research note on Thursday, March 14th. Finally, Roth Capital lowered FTC Solar from a "buy" rating to a "neutral" rating in a research report on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $1.49.
View Our Latest Report on FTC Solar
About FTC Solar
(
Get Free Report)
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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