FTC Solar, Inc. (NASDAQ:FTCI – Get Rating) major shareholder Arc Family Trust sold 100,000 shares of the firm's stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $2.60, for a total value of $260,000.00. Following the completion of the transaction, the insider now directly owns 15,753,357 shares of the company's stock, valued at $40,958,728.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Arc Family Trust also recently made the following trade(s):
Get FTC Solar alerts:- On Monday, January 9th, Arc Family Trust sold 45,217 shares of FTC Solar stock. The stock was sold at an average price of $2.68, for a total value of $121,181.56.
- On Wednesday, November 30th, Arc Family Trust sold 84,000 shares of FTC Solar stock. The stock was sold at an average price of $2.10, for a total value of $176,400.00.
- On Monday, November 28th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $1.98, for a total value of $99,000.00.
- On Wednesday, November 23rd, Arc Family Trust sold 64,000 shares of FTC Solar stock. The stock was sold at an average price of $2.28, for a total value of $145,920.00.
- On Monday, November 21st, Arc Family Trust sold 60,000 shares of FTC Solar stock. The stock was sold at an average price of $2.15, for a total value of $129,000.00.
- On Monday, November 14th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $2.32, for a total value of $116,000.00.
- On Monday, November 7th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $1.85, for a total value of $92,500.00.
- On Wednesday, November 2nd, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $1.89, for a total value of $94,500.00.
- On Monday, October 31st, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.05, for a total value of $102,500.00.
- On Wednesday, October 26th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.09, for a total value of $104,500.00.
FTC Solar Stock Down 4.1 %
FTCI stock traded down $0.12 during midday trading on Thursday, reaching $2.83. The stock had a trading volume of 1,067,480 shares, compared to its average volume of 1,228,034. The business has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $3.22. The firm has a market cap of $292.30 million, a price-to-earnings ratio of -2.72 and a beta of 1.96. FTC Solar, Inc. has a twelve month low of $1.78 and a twelve month high of $6.82.
FTC Solar (NASDAQ:FTCI – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). The firm had revenue of $16.57 million during the quarter, compared to analyst estimates of $17.28 million. FTC Solar had a negative return on equity of 81.67% and a negative net margin of 51.87%. On average, equities analysts predict that FTC Solar, Inc. will post -0.91 earnings per share for the current fiscal year.Hedge Funds Weigh In On FTC Solar
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in FTC Solar by 8.1% during the first quarter. Invesco Ltd. now owns 3,567,308 shares of the company's stock worth $17,587,000 after buying an additional 267,307 shares during the last quarter. BlackRock Inc. boosted its holdings in FTC Solar by 67.7% during the first quarter. BlackRock Inc. now owns 2,164,042 shares of the company's stock worth $10,670,000 after buying an additional 873,868 shares during the last quarter. Vanguard Group Inc. boosted its holdings in FTC Solar by 10.4% during the third quarter. Vanguard Group Inc. now owns 1,912,664 shares of the company's stock worth $5,662,000 after buying an additional 180,361 shares during the last quarter. State Street Corp boosted its holdings in FTC Solar by 5.8% during the first quarter. State Street Corp now owns 1,845,243 shares of the company's stock worth $9,097,000 after buying an additional 101,614 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in FTC Solar by 185.2% during the third quarter. Citadel Advisors LLC now owns 882,529 shares of the company's stock worth $2,612,000 after buying an additional 573,081 shares during the last quarter. Institutional investors own 28.59% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on FTCI shares. Raymond James lowered their target price on FTC Solar from $6.00 to $5.00 and set a "strong-buy" rating for the company in a research note on Thursday, November 10th. Piper Sandler lowered their target price on FTC Solar to $2.50 in a research note on Wednesday, November 16th. Credit Suisse Group lowered their target price on FTC Solar to $6.00 in a research note on Wednesday, November 16th. Finally, Northland Securities lowered their target price on FTC Solar to $4.00 in a research note on Tuesday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, FTC Solar currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.17.
FTC Solar Company Profile
(Get Rating)
FTC Solar, Inc provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites.
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