FTC Solar Inc (NASDAQ: FTCI) is -35.78% lower 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 make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The FTCI stock was last observed hovering at around $0.47 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $0.44, the stock is -14.98% and -18.30% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.2 million and changing -6.28% at the moment leaves the stock -70.53% off its SMA200. FTCI registered -81.69% loss for a year compared to 6-month loss of -66.30%. The firm has a 50-day simple moving average (SMA 50) of $0.23 and a 200-day simple moving average (SMA200) of -$0.51.
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The stock witnessed a -26.47% gain in the last 1 month and extending the period to 3 months gives it a -41.95%, and is -12.09% 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 13.18% over the week and 12.28% over the month.
FTC Solar Inc (FTCI) has around 221 employees, a market worth around $55.62M and $127.00M in sales. Fwd P/E is 17.20. Profit margin for the company is -39.60%. Distance from 52-week low is 57.71% and -88.50% 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 -$0.03 with sales reaching $43M over the same period.The EPS is expected to grow by 46.67% this year, but quarterly earnings will post 87.60% year-over-year. Quarterly sales are estimated to grow 5.10% in year-over-year returns.
114 institutions hold shares in FTC Solar Inc (FTCI), with institutional investors hold 43.94% of the company’s shares. The shares outstanding are 125.45M, and float is at 55.75M with Short Float at 13.51%. Institutions hold 27.13% 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
The most recent transaction is an insider sale by Morris Robert Phelps, the company’s Former Chief Financial Officer. SEC filings show that Morris Robert Phelps sold 19,791 shares of the company’s common stock on Dec 13 ’23 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 ’23 that Chatila Ahmad R (Director) bought a total of 13,960 shares of the company’s common stock. The trade occurred on Dec 08 ’23 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 ’23, 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).
