FTC Solar, Inc. (NASDAQ:FTCI) Director Purchases $49,048.20 in Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila acquired 16,740 shares of FTC Solar stock in a transaction dated Wednesday, April 2nd. The shares were acquired at an average price of $2.93 per share, with a total value of $49,048.20. Following the completion of the transaction, the director now owns 1,984,708 shares of the company’s stock, valued at approximately $5,815,194.44. This trade represents a 0.85 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

FTC Solar Trading Up 2.4 %

Shares of NASDAQ FTCI traded up $0.07 during mid-day trading on Thursday, reaching $3.02. 24,085 shares of the company’s stock were exchanged, compared to its average volume of 257,174. The business has a fifty day simple moving average of $3.19 and a 200 day simple moving average of $4.15. FTC Solar, Inc. has a twelve month low of $1.76 and a twelve month high of $7.40. The firm has a market capitalization of $38.82 million, a price-to-earnings ratio of -0.80 and a beta of 1.26.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of FTC Solar from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday. Roth Mkm increased their price objective on FTC Solar from $0.50 to $3.00 and gave the company a “neutral” rating in a research report on Tuesday.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in FTC Solar stock. XTX Topco Ltd acquired a new stake in FTC Solar, Inc. (NASDAQ:FTCI) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 118,830 shares of the company’s stock, valued at approximately $81,000. XTX Topco Ltd owned about 0.09% of FTC Solar at the end of the most recent reporting period. Hedge funds and other institutional investors own 45.36% of the company’s stock.

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.