FTC Solar (NASDAQ:FTCI) CEO Anthony Carroll Buys 24,745 Shares of Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Anthony Carroll acquired 24,745 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were acquired at an average cost of $2.08 per share, with a total value of $51,469.60. Following the purchase, the chief executive officer directly owned 666,200 shares of the company’s stock, valued at $1,385,696. This trade represents a 3.86% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

FTC Solar Stock Up 15.1%

FTC Solar stock opened at $2.29 on Thursday. The stock has a market cap of $37.83 million, a price-to-earnings ratio of -0.37 and a beta of 1.87. The business has a 50-day simple moving average of $3.68 and a 200 day simple moving average of $4.77. FTC Solar, Inc. has a 52 week low of $1.99 and a 52 week high of $12.75.

Hedge Funds Weigh In On FTC Solar

Several institutional investors and hedge funds have recently bought and sold shares of FTCI. Mercer Global Advisors Inc. ADV bought a new stake in FTC Solar in the fourth quarter valued at approximately $109,000. Hudson Bay Capital Management LP purchased a new stake in FTC Solar during the 4th quarter valued at $135,000. Jane Street Group LLC purchased a new stake in FTC Solar during the 4th quarter valued at $135,000. Laurel Oak Wealth Management LLC bought a new stake in FTC Solar in the 1st quarter worth $60,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in FTC Solar in the 4th quarter worth $296,000. 45.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FTCI shares. Wall Street Zen lowered shares of FTC Solar from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of FTC Solar in a report on Wednesday, June 24th. Roth Capital set a $7.00 price objective on shares of FTC Solar and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, TD Cowen reduced their target price on FTC Solar from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, FTC Solar has a consensus rating of “Hold” and an average price target of $10.50.

FTC Solar Company Profile

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.