FTC Solar (NASDAQ:FTCI) Director David Springer Sells 100,000 Shares

FTC Solar, Inc. (NASDAQ:FTCI) Director David Springer sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $8.98, for a total value of $898,000.00. Following the transaction, the director owned 689,222 shares of the company’s stock, valued at approximately $6,189,213.56. This represents a 12.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FTC Solar Stock Down 0.2%

FTCI opened at $8.42 on Friday. The stock’s 50 day moving average price is $8.18 and its 200 day moving average price is $6.04. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.66 and a quick ratio of 1.53. The stock has a market cap of $125.72 million, a P/E ratio of -1.96 and a beta of 1.46. FTC Solar, Inc. has a 12 month low of $2.13 and a 12 month high of $11.45.

FTC Solar (NASDAQ:FTCI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.14. The company had revenue of $26.03 million during the quarter, compared to analyst estimates of $21.12 million. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%. FTC Solar has set its Q4 2025 guidance at EPS. As a group, research analysts predict that FTC Solar, Inc. will post -3.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTCI. Vanguard Group Inc. lifted its position 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 valued at $2,417,000 after acquiring an additional 53,391 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of FTC Solar by 81.3% during the first quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock worth $88,000 after purchasing an additional 13,715 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of FTC Solar during the second quarter valued at $79,000. Institutional investors and hedge funds own 45.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FTCI. Roth Capital set a $15.00 price target on shares of FTC Solar in a research report on Monday. Zacks Research upgraded shares of FTC Solar from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of FTC Solar in a research report on Wednesday, October 8th. TD Cowen increased their price target on FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, November 13th. Finally, UBS Group reiterated a “neutral” rating and set a $5.50 price target (up from $3.80) on shares of FTC Solar in a research report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.30.

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.