Key Points
- FTC Solar director Shaker Sadasivam purchased 27,025 shares on May 6 at $3.70 each (~$99,993), raising his holding to 81,508 shares — a 49.6% increase in his position.
- The company badly missed its latest quarter, reporting EPS of -$0.67 vs. -$0.41 expected and revenue of $17.27M vs. $24.26M expected, with severely negative ROE and net margin.
- Analysts hold a consensus "Hold" rating with an average target of $12.50 amid recent mixed coverage (TD Cowen cut its target to $5 but kept a buy), while institutional investors own about 45% of the stock.
FTC Solar, Inc. (NASDAQ:FTCI - Get Free Report) CEO Anthony Carroll purchased 7,250 shares of FTC Solar stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $3.43 per share, with a total value of $24,867.50. Following the completion of the transaction, the chief executive officer owned 641,455 shares of the company's stock, valued at $2,200,190.65. This represents a 1.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
FTC Solar Stock Performance
Shares of NASDAQ FTCI opened at $4.27 on Friday. The stock has a market cap of $68.32 million, a PE ratio of -0.74 and a beta of 1.81. FTC Solar, Inc. has a fifty-two week low of $2.97 and a fifty-two week high of $12.75. The stock has a fifty day moving average of $4.74 and a 200-day moving average of $8.10.
FTC Solar (NASDAQ:FTCI - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.26). FTC Solar had a negative return on equity of 549.96% and a negative net margin of 42.12%.The business had revenue of $17.27 million for the quarter, compared to analysts' expectations of $24.26 million. On average, sell-side analysts predict that FTC Solar, Inc. will post -1.09 EPS for the current year.
Institutional Investors Weigh In On FTC Solar
A number of hedge funds and other institutional investors have recently modified their holdings of FTCI. Walleye Capital LLC bought a new stake in shares of FTC Solar in the 4th quarter valued at about $1,482,000. Electron Capital Partners LLC bought a new stake in shares of FTC Solar in the 4th quarter valued at about $979,000. Informed Momentum Co LLC bought a new stake in shares of FTC Solar in the 4th quarter valued at about $836,000. Marshall Wace LLP bought a new stake in shares of FTC Solar in the 4th quarter valued at about $762,000. Finally, Captrust Financial Advisors bought a new stake in shares of FTC Solar in the 4th quarter valued at about $745,000. Institutional investors own 45.36% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on FTCI shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of FTC Solar in a research note on Friday, March 27th. TD Cowen dropped their price target on FTC Solar from $8.00 to $5.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Wall Street Zen lowered FTC Solar from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.50.
View Our Latest Research Report on FTCI
About FTC Solar
(
Get Free Report)
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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