UBS Group Has Lowered Expectations for FTC Solar (NASDAQ:FTCI) Stock Price

FTC Solar (NASDAQ:FTCI) had its price target trimmed by UBS Group from $4.00 to $3.50 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Roth Mkm boosted their price target on FTC Solar from $0.50 to $3.00 and gave the company a “neutral” rating in a report on Tuesday.

FTC Solar Stock Performance

NASDAQ FTCI opened at $2.95 on Wednesday. FTC Solar has a fifty-two week low of $1.76 and a fifty-two week high of $7.40. The firm has a market capitalization of $37.92 million, a P/E ratio of -0.78 and a beta of 1.26. The stock has a 50-day simple moving average of $3.19 and a two-hundred day simple moving average of $4.15.

Hedge Funds Weigh In On FTC Solar

An institutional investor recently bought a new position in FTC Solar stock. XTX Topco Ltd acquired a new stake in FTC Solar, Inc. (NASDAQ:FTCI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 118,830 shares of the company’s stock, valued at approximately $81,000. XTX Topco Ltd owned approximately 0.09% of FTC Solar at the end of the most recent reporting period. Institutional investors 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.