Ahmad R. Chatila Buys 114,726 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila bought 114,726 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average price of $0.44 per share, for a total transaction of $50,479.44. Following the completion of the transaction, the director now owns 1,082,184 shares in the company, valued at $476,160.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

FTC Solar Stock Up 11.4 %

NASDAQ:FTCI opened at $0.47 on Friday. FTC Solar, Inc. has a 52 week low of $0.28 and a 52 week high of $3.87. The firm’s fifty day moving average is $0.48 and its 200-day moving average is $0.55.

FTC Solar (NASDAQ:FTCI) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $12.59 million during the quarter, compared to the consensus estimate of $12.54 million. FTC Solar had a negative return on equity of 63.07% and a negative net margin of 47.92%. On average, research analysts forecast that FTC Solar, Inc. will post -0.32 earnings per share for the current year.

Hedge Funds Weigh In On FTC Solar

Institutional investors have recently added to or reduced their stakes in the business. Electron Capital Partners LLC lifted its position in shares of FTC Solar by 109.1% during the 3rd quarter. Electron Capital Partners LLC now owns 4,298,357 shares of the company’s stock valued at $5,502,000 after acquiring an additional 2,242,410 shares during the period. GSA Capital Partners LLP raised its holdings in shares of FTC Solar by 162.2% during the first quarter. GSA Capital Partners LLP now owns 1,923,411 shares of the company’s stock valued at $1,037,000 after purchasing an additional 1,189,960 shares during the period. Maven Securities LTD bought a new position in shares of FTC Solar during the 3rd quarter worth about $960,000. Ardsley Advisory Partners LP acquired a new stake in shares of FTC Solar in the 3rd quarter valued at about $800,000. Finally, Graham Capital Management L.P. increased its position in FTC Solar by 225.7% in the 3rd quarter. Graham Capital Management L.P. now owns 217,061 shares of the company’s stock valued at $278,000 after buying an additional 150,407 shares in the last quarter. 45.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FTCI shares. Roth Capital downgraded shares of FTC Solar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. Roth Mkm reaffirmed a “neutral” rating and set a $0.45 target price (down from $2.00) on shares of FTC Solar in a research report on Thursday, March 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $1.50 target price on shares of FTC Solar in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.49.

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.