Ahmad R. Chatila Purchases 97,400 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila acquired 97,400 shares of the stock in a transaction dated Tuesday, March 26th. The shares were bought at an average price of $0.51 per share, for a total transaction of $49,674.00. Following the transaction, the director now owns 967,458 shares in the company, valued at approximately $493,403.58. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

FTC Solar Stock Performance

FTCI stock opened at $0.54 on Friday. The firm’s 50-day moving average price is $0.53 and its two-hundred day moving average price is $0.79. FTC Solar, Inc. has a 12-month low of $0.28 and a 12-month high of $3.87.

FTC Solar (NASDAQ:FTCI) last announced its earnings results on Wednesday, March 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The firm had revenue of $23.20 million for the quarter, compared to analyst estimates of $22.80 million. FTC Solar had a negative net margin of 39.60% and a negative return on equity of 59.79%. During the same quarter in the previous year, the firm posted ($0.16) EPS. Equities research analysts anticipate that FTC Solar, Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FTC Solar

Large investors have recently modified their holdings of the stock. Mariner LLC bought a new stake in shares of FTC Solar during the 4th quarter valued at about $27,000. FMR LLC boosted its stake in FTC Solar by 873.4% during the first quarter. FMR LLC now owns 11,837 shares of the company’s stock worth $27,000 after acquiring an additional 10,621 shares in the last quarter. State of Wyoming bought a new stake in FTC Solar during the second quarter worth about $33,000. OLD Mission Capital LLC boosted its stake in FTC Solar by 120.7% during the fourth quarter. OLD Mission Capital LLC now owns 49,005 shares of the company’s stock worth $34,000 after acquiring an additional 26,803 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in FTC Solar during the fourth quarter worth about $35,000. Institutional investors own 45.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Northland Securities lifted their target price on shares of FTC Solar from $0.65 to $1.00 and gave the stock a “market perform” rating in a research report on Friday, December 15th. Roth Capital cut shares of FTC Solar from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. HC Wainwright decreased their price objective on shares of FTC Solar from $2.50 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Finally, Roth Mkm restated a “neutral” rating and issued a $0.45 price objective (down previously from $2.00) on shares of FTC Solar in a research report on Thursday, March 14th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1.49.

FTC Solar Company Profile

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.