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

Shares of FTC Solar, Inc. (NASDAQ:FTCI) have been given an average rating of “Hold” by the five brokerages that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $8.13.

Separately, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of FTC Solar in a report on Wednesday, November 13th.

Insider Activity at FTC Solar

In other FTC Solar news, CEO Yann Brandt bought 31,450 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $3.12 per share, with a total value of $98,124.00. Following the acquisition, the chief executive officer now directly owns 691,700 shares of the company’s stock, valued at $2,158,104. This represents a 4.76 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 22.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FTC Solar

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in FTC Solar during the second quarter worth $42,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of FTC Solar by 527.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after purchasing an additional 83,334 shares during the period. Geode Capital Management LLC raised its position in shares of FTC Solar by 9.2% during the third quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock valued at $522,000 after buying an additional 64,325 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of FTC Solar in the third quarter valued at about $81,000. 45.36% of the stock is owned by institutional investors.

FTC Solar Trading Down 1.5 %

FTC Solar stock opened at $3.29 on Friday. FTC Solar has a 1-year low of $1.76 and a 1-year high of $9.56. The firm’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $4.12. The company has a market capitalization of $42.04 million, a P/E ratio of -0.87 and a beta of 1.56.

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.