HC Wainwright Issues Positive Forecast for FTC Solar (NASDAQ:FTCI) Stock Price

FTC Solar (NASDAQ:FTCI) had its target price hoisted by HC Wainwright from $1.50 to $5.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Roth Mkm upped their price objective on shares of FTC Solar from $0.50 to $3.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. UBS Group cut their price target on shares of FTC Solar from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Wednesday, April 2nd. Finally, Roth Capital set a $3.00 price objective on shares of FTC Solar in a research report on Tuesday, April 1st.

FTC Solar Stock Down 10.0 %

FTC Solar stock opened at $2.26 on Tuesday. The stock has a market cap of $29.08 million, a price-to-earnings ratio of -0.59 and a beta of 1.25. The business has a 50-day simple moving average of $3.03 and a 200 day simple moving average of $4.07. FTC Solar has a 52 week low of $1.76 and a 52 week high of $7.40.

Insiders Place Their Bets

In other FTC Solar news, Director Ahmad R. Chatila purchased 16,740 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were purchased at an average cost of $2.93 per share, with a total value of $49,048.20. Following the completion of the purchase, the director now owns 1,984,708 shares of the company’s stock, valued at $5,815,194.44. The trade was a 0.85 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.60% of the stock is owned by insiders.

Hedge Funds Weigh In On FTC Solar

A hedge fund recently bought a new stake in FTC Solar stock. XTX Topco Ltd purchased a new stake in shares of FTC Solar, Inc. (NASDAQ:FTCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 118,830 shares of the company’s stock, valued at approximately $81,000. XTX Topco Ltd owned 0.09% of FTC Solar as of its most recent SEC filing. Institutional investors and hedge funds own 45.36% of the company’s stock.

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.