GSA Capital Partners LLP Sells 1,214,691 Shares of FTC Solar, Inc. (NASDAQ:FTCI)

GSA Capital Partners LLP trimmed its holdings in shares of FTC Solar, Inc. (NASDAQ:FTCI) by 56.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 939,855 shares of the company’s stock after selling 1,214,691 shares during the period. GSA Capital Partners LLP owned approximately 0.74% of FTC Solar worth $640,000 as of its most recent filing with the SEC.

Separately, Mercer Global Advisors Inc. ADV boosted its holdings in shares of FTC Solar by 527.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after buying an additional 83,334 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $1.50 price target on shares of FTC Solar in a report on Wednesday, November 13th. TD Cowen cut their target price on FTC Solar from $1.50 to $1.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, UBS Group cut their target price on FTC Solar from $0.50 to $0.30 and set a “neutral” rating on the stock in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $0.85.

Insider Activity at FTC Solar

In related news, Director Ahmad R. Chatila purchased 238,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $0.21 per share, with a total value of $49,980.00. Following the transaction, the director now owns 1,951,046 shares of the company’s stock, valued at $409,719.66. This represents a 13.89 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 448,000 shares of company stock valued at $100,280. 22.60% of the stock is owned by insiders.

FTC Solar Stock Down 4.4 %

Shares of FTCI opened at $0.40 on Tuesday. FTC Solar, Inc. has a 12-month low of $0.18 and a 12-month high of $1.00. The business’s fifty day moving average is $0.52 and its 200 day moving average is $0.44. The stock has a market cap of $51.49 million, a P/E ratio of -1.06 and a beta of 1.79.

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.