Brokerages Set FTC Solar, Inc. (NASDAQ:FTCI) PT at $8.50

FTC Solar, Inc. (NASDAQ:FTCI) has been given an average rating of “Hold” by the five analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $8.13.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of FTC Solar in a report on Wednesday, November 13th.

Institutional Trading of FTC Solar

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in shares of FTC Solar by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock valued at $522,000 after acquiring an additional 64,325 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in FTC Solar in the second quarter valued at about $42,000. XTX Topco Ltd acquired a new position in shares of FTC Solar during the third quarter worth about $81,000. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of FTC Solar by 527.9% in the second 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 during the period. Institutional investors and hedge funds own 45.36% of the company’s stock.

FTC Solar Trading Down 5.6 %

NASDAQ FTCI opened at $3.02 on Friday. The stock has a market capitalization of $38.59 million, a price-to-earnings ratio of -0.79 and a beta of 1.56. The business’s 50 day moving average is $4.61 and its two-hundred day moving average is $4.14. FTC Solar has a 12-month low of $1.76 and a 12-month high of $9.99.

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.