FTC Solar (FTCI) to Release Earnings on Wednesday

FTC Solar (NASDAQ:FTCIGet Free Report) will be posting its quarterly earnings results after the market closes on Wednesday, March 13th. Analysts expect FTC Solar to post earnings of ($0.07) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

FTC Solar Stock Performance

Shares of FTCI opened at $0.49 on Wednesday. The company has a 50-day simple moving average of $0.57 and a 200-day simple moving average of $0.94. The firm has a market capitalization of $61.25 million, a P/E ratio of -0.91 and a beta of 1.60. FTC Solar has a 52 week low of $0.28 and a 52 week high of $3.87.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of FTC Solar by 5.0% in the first quarter. BlackRock Inc. now owns 3,996,772 shares of the company’s stock valued at $8,993,000 after acquiring an additional 189,135 shares during the last quarter. Invesco Ltd. raised its stake in shares of FTC Solar by 8.1% in the first quarter. Invesco Ltd. now owns 3,567,308 shares of the company’s stock valued at $17,587,000 after acquiring an additional 267,307 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of FTC Solar by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 2,894,800 shares of the company’s stock valued at $2,006,000 after acquiring an additional 283,721 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of FTC Solar by 627.0% in the second quarter. Point72 Asset Management L.P. now owns 2,181,143 shares of the company’s stock valued at $7,023,000 after acquiring an additional 1,881,143 shares during the last quarter. Finally, State Street Corp raised its stake in shares of FTC Solar by 5.8% in the first quarter. State Street Corp now owns 1,845,243 shares of the company’s stock valued at $9,097,000 after acquiring an additional 101,614 shares during the last quarter. Institutional investors own 33.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James cut their price objective on shares of FTC Solar from $4.00 to $2.00 and set a “strong-buy” rating for the company in a research report on Thursday, November 9th. Northland Securities raised their price target on shares of FTC Solar from $0.65 to $1.00 and gave the stock a “market perform” rating in a research note on Friday, December 15th. Finally, HC Wainwright cut their price target on shares of FTC Solar from $5.00 to $2.50 and set a “buy” rating for the company in a research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.17.

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FTC Solar Company Profile

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FTC Solar, Inc provides solar tracker systems, software, and engineering services in the United States and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides Pioneer, a one module-in-portrait solar tracker solution that allows for a pile count reduction per megawatt.

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Earnings History for FTC Solar (NASDAQ:FTCI)

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