FTC Solar Inc. (NASDAQ: FTCI) is 5.97% higher on its value in year-to-date trading and has touched a low of $1.78 and a high of $6.14 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The FTCI stock was last observed hovering at around $3.24 in the last trading session, with the day’s loss setting it -0.4% off its average median price target of $4.25 for the next 12 months. It is also 68.44% off the consensus price target high of $9.00 offered by 8 analysts, but current levels are 5.33% higher than the price target low of $3.00 for the same period.
Currently trading at $2.84, the stock is -2.89% and 8.98% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.79 million and changing -12.35% at the moment leaves the stock -0.99% off its SMA200. FTCI registered -26.42% loss for a year compared to 6-month gain of 35.89%. The firm has a 50-day simple moving average (SMA 50) of $2.67 and a 200-day simple moving average (SMA200) of -$3.76.
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The stock witnessed a 10.51% loss in the last 1 month and extending the period to 3 months gives it a 5.58%, and is -5.96% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 11.44% over the week and 8.65% over the month.
FTC Solar Inc. (FTCI) has around 221 employees, a market worth around $311.01M and $114.40M in sales. Fwd P/E is 15.11. Profit margin for the company is -73.10%. Distance from 52-week low is 59.55% and -53.75% from its 52-week high. The company has generated returns on investments over the last 12 months (-150.40%).
FTC Solar Inc. (FTCI) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for FTC Solar Inc. (FTCI) is a “Buy”. 8 analysts offering their recommendations for the stock have an average rating of 1.90, where 1 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
FTC Solar Inc. is expected to release its quarterly report on 08/09/2023.The EPS is expected to grow by 20.70% this year
FTC Solar Inc. (FTCI) Top Institutional Holders
The shares outstanding are 106.79M, and float is at 43.98M with Short Float at 16.05%.
FTC Solar Inc. (FTCI) Insider Activity
A total of 76 insider transactions have happened at FTC Solar Inc. (FTCI) in the last six months, with sales accounting for 46 and purchases happening 30 times. The most recent transaction is an insider sale by Cherukupalli Nagendra, the company’s CHIEF TECHNOLOGY OFFICER. SEC filings show that Cherukupalli Nagendra sold 137,820 shares of the company’s common stock on May 15 at a price of $3.28 per share for a total of $0.45 million. Following the sale, the insider now owns 1.69 million shares.
FTC Solar Inc. disclosed in a document filed with the SEC on May 15 that Mullings Tamara (Director) sold a total of 22,000 shares of the company’s common stock. The trade occurred on May 15 and was made at $3.17 per share for $69741.0. Following the transaction, the insider now directly holds 0.22 million shares of the FTCI stock.
Still, SEC filings show that on Apr 13, Hunkler Sean (President & CEO) disposed off 6,407 shares at an average price of $2.75 for $17619.0. The insider now directly holds 670,265 shares of FTC Solar Inc. (FTCI).
FTC Solar Inc. (FTCI): Who are the competitors?
The company’s main competitors (and peers) include Flex Ltd. (FLEX) that is trading 62.96% up over the past 12 months and Array Technologies Inc. (ARRY) that is 150.33% higher over the same period.