FTC Solar (NASDAQ:FTCI) CEO Yann Brandt Sells 37,775 Shares

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt sold 37,775 shares of FTC Solar stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $10.84, for a total value of $409,481.00. Following the completion of the sale, the chief executive officer owned 776,425 shares of the company’s stock, valued at $8,416,447. This trade represents a 4.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

FTC Solar Trading Up 1.0%

Shares of NASDAQ:FTCI traded up $0.11 during trading on Wednesday, reaching $10.91. 58,738 shares of the stock were exchanged, compared to its average volume of 116,705. FTC Solar, Inc. has a 12-month low of $2.13 and a 12-month high of $11.99. The firm’s 50-day moving average price is $9.45 and its 200 day moving average price is $7.27. The firm has a market cap of $163.00 million, a price-to-earnings ratio of -2.52 and a beta of 1.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.66.

FTC Solar (NASDAQ:FTCI) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.14. The firm had revenue of $26.03 million during the quarter, compared to analysts’ expectations of $21.12 million. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%. On average, sell-side analysts anticipate that FTC Solar, Inc. will post -3.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group reiterated a “neutral” rating and issued a $10.00 price target (up from $5.50) on shares of FTC Solar in a research report on Tuesday, December 2nd. TD Cowen upped their price target on shares of FTC Solar from $8.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Roth Capital set a $15.00 target price on shares of FTC Solar in a research report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of FTC Solar in a research note on Monday. Finally, Zacks Research raised FTC Solar from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FTC Solar has an average rating of “Hold” and a consensus price target of $9.20.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FTCI. Goldman Sachs Group Inc. grew its position in shares of FTC Solar by 81.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock valued at $88,000 after acquiring an additional 13,715 shares during the period. Jane Street Group LLC bought a new stake in FTC Solar during the second quarter worth about $79,000. Finally, Vanguard Group Inc. lifted its holdings in shares of FTC Solar by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock worth $2,417,000 after acquiring an additional 53,391 shares during the period. 45.36% of the stock is currently owned by institutional investors.

About FTC Solar

FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company’s tracker solutions are engineered to follow the sun’s path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.

Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.