FTC Solar, Inc. (NASDAQ:FTCI) Given Average Recommendation of “Hold” by Analysts

FTC Solar, Inc. (NASDAQ:FTCI) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $13.25.

A number of equities research analysts have commented on FTCI shares. TD Cowen decreased their price target on FTC Solar from $12.50 to $8.00 and set a “buy” rating on the stock in a report on Friday, March 6th. HC Wainwright reiterated a “buy” rating and set a $20.00 target price (up from $5.00) on shares of FTC Solar in a research report on Wednesday, January 7th. UBS Group reissued a “neutral” rating and set a $10.00 target price (up from $5.50) on shares of FTC Solar in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of FTC Solar in a report on Monday, December 29th. Finally, Zacks Research upgraded FTC Solar from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th.

FTC Solar Stock Up 3.6%

FTCI opened at $4.83 on Wednesday. The stock has a market cap of $72.16 million, a price-to-earnings ratio of -0.86 and a beta of 1.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.66. The firm’s fifty day moving average is $9.04 and its 200 day moving average is $8.85. FTC Solar has a fifty-two week low of $2.13 and a fifty-two week high of $12.75.

Insider Buying and Selling at FTC Solar

In other FTC Solar news, COO Sasan Aminpour sold 3,239 shares of FTC Solar stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $10.93, for a total value of $35,402.27. Following the sale, the chief operating officer directly owned 269,734 shares in the company, valued at approximately $2,948,192.62. The trade was a 1.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yann Brandt sold 37,775 shares of FTC Solar stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $10.84, for a total transaction of $409,481.00. Following the completion of the sale, the chief executive officer owned 776,425 shares in the company, valued at approximately $8,416,447. This represents a 4.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 42,660 shares of company stock worth $462,874 in the last three months. Insiders own 21.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors bought a new stake in shares of FTC Solar in the fourth quarter worth about $745,000. Squarepoint Ops LLC bought a new position in FTC Solar during the fourth quarter valued at approximately $581,000. State Street Corp grew its holdings in FTC Solar by 53.4% during the 4th quarter. State Street Corp now owns 43,971 shares of the company’s stock valued at $480,000 after buying an additional 15,300 shares in the last quarter. Quadrature Capital Ltd purchased a new position in FTC Solar during the 4th quarter valued at approximately $419,000. Finally, Renaissance Technologies LLC bought a new stake in FTC Solar in the 4th quarter worth approximately $367,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.

FTC Solar Company Profile

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.