Key Points
- CEO sale: Yann Brandt sold 37,775 shares on Dec. 30 at an average price of $10.84 for about $409,481, cutting his ownership by 4.64% to 776,425 shares.
- Financials & analyst view: The company reported ($0.36) EPS and $26.03M revenue—beating estimates—but remains unprofitable (net margin -69.25%), and analysts' consensus is a "Hold" with an average target of $9.20.
FTC Solar, Inc. (NASDAQ:FTCI - Get Free Report) CFO Cathy Behnen sold 1,646 shares of FTC Solar stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $10.93, for a total transaction of $17,990.78. Following the completion of the sale, the chief financial officer owned 143,534 shares of the company's stock, valued at approximately $1,568,826.62. This trade represents a 1.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
FTC Solar Trading Up 1.0%
NASDAQ:FTCI opened at $10.91 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 1.20. The company has a market cap of $163.00 million, a PE ratio of -2.52 and a beta of 1.45. FTC Solar, Inc. has a 52 week low of $2.13 and a 52 week high of $11.99. The business's 50 day moving average is $9.51 and its two-hundred day moving average is $7.30.
FTC Solar (NASDAQ:FTCI - Get Free Report) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.14. FTC Solar had a negative net margin of 69.25% and a negative return on equity of 549.96%. The business had revenue of $26.03 million during the quarter, compared to analyst estimates of $21.12 million. On average, analysts predict that FTC Solar, Inc. will post -3.98 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of FTCI. Goldman Sachs Group Inc. grew its holdings in shares of FTC Solar by 81.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company's stock valued at $88,000 after buying an additional 13,715 shares during the period. Vanguard Group Inc. lifted its holdings in FTC Solar by 18.4% during the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company's stock worth $2,417,000 after acquiring an additional 53,391 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in FTC Solar in the second quarter valued at about $79,000. Institutional investors and hedge funds own 45.36% of the company's stock.
Analysts Set New Price Targets
Several research analysts have issued reports on FTCI shares. TD Cowen upped their price target on FTC Solar from $8.00 to $12.50 and gave the company a "buy" rating in a report on Thursday, November 13th. Roth Capital set a $15.00 price target on FTC Solar in a research note on Monday, November 17th. Zacks Research upgraded shares of FTC Solar from a "strong sell" rating to a "hold" rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of FTC Solar in a report on Monday. Finally, UBS Group reissued a "neutral" rating and issued a $10.00 target price (up from $5.50) on shares of FTC Solar in a report on Tuesday, December 2nd. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FTC Solar presently has an average rating of "Hold" and an average price target of $9.20.
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About FTC Solar
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FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company's tracker solutions are engineered to follow the sun's path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.
Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.
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