FTC Solar Inc (FTCI) Looks Ready for Growth Despite 1.85% Change This Year

FTC Solar Inc (NASDAQ: FTCI) is 1.85% higher on its value in year-to-date trading and has touched a low of $0.28 and a high of $3.87 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 $0.57 in the last trading session, with the day’s gains setting it 0.14%.

Currently trading at $0.71, the stock is 34.92% and 10.89% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.44 million and changing 24.75% at the moment leaves the stock -60.15% off its SMA200. FTCI registered -75.24% loss for a year compared to 6-month loss of -69.45%. The firm has a 50-day simple moving average (SMA 50) of $0.45 and a 200-day simple moving average (SMA200) of -$1.02.

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The stock witnessed a 30.04% gain in the last 1 month and extending the period to 3 months gives it a 56.94%, and is 52.76% up 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 12.76% over the week and 11.69% over the month.

Profit margin for the company is -45.85%. Distance from 52-week low is 150.12% and -81.77% from its 52-week high. The company has generated returns on investments over the last 12 months (-79.08%).

FTC Solar Inc quarterly earnings per share for the current quarter are estimated at -$0.07 with sales reaching $23.12M over the same period.The EPS is expected to grow by 54.37% this year, but quarterly earnings will post 3.10% year-over-year. Quarterly sales are estimated to shrink -11.80% in year-over-year returns.

FTC Solar Inc (FTCI) Top Institutional Holders

118 institutions hold shares in FTC Solar Inc (FTCI), with institutional investors hold 52.59% of the company’s shares. The shares outstanding are 105.03M, and float is at 55.27M with Short Float at 12.41%. Institutions hold 32.50% of the Float.

The top institutional shareholder in the company is Hill City Capital, Lp with over 4.33 million shares valued at $13.94 million. The investor’s holdings represent 3.67% of the FTCI Shares outstanding. As of Jun 29, 2023, the second largest holder is Invesco Ltd. with 3.75 million shares valued at $12.09 million to account for 3.18% of the shares outstanding. The other top investors are Blackrock Inc. which holds 3.61 million shares representing 3.06% and valued at over $11.64 million, while Handelsbanken Fonder AB holds 2.38% of the shares totaling 2.81 million with a market value of $3.59 million.

FTC Solar Inc (FTCI) Insider Activity

A total of 27 insider transactions have happened at FTC Solar Inc (FTCI) in the last six months, with sales accounting for 18 and purchases happening 9 times. The most recent transaction is an insider sale by Morris Robert Phelps,the company’sFormer Chief Financial Officer. SEC filings show that Morris Robert Phelps sold 19,791 shares of the company’s common stock on Dec 13 at a price of $0.73 per share for a total of $14447.0. Following the sale, the insider now owns 0.17 million shares.

FTC Solar Inc disclosed in a document filed with the SEC on Dec 08 that Chatila Ahmad R (Director) bought a total of 13,960 shares of the company’s common stock. The trade occurred on Dec 08 and was made at $0.75 per share for $10470.0. Following the transaction, the insider now directly holds 0.58 million shares of the FTCI stock.

Still, SEC filings show that on Dec 01, Chatila Ahmad R (Director) acquired 14,550 shares at an average price of $0.68 for $9894.0. The insider now directly holds 569,198 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 53.50% up over the past 12 months. Array Technologies Inc. (ARRY) that is -24.89% lower over the same period.