Arc Family Trust Sells 50,000 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCIGet Rating) major shareholder Arc Family Trust sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $4.17, for a total transaction of $208,500.00. Following the sale, the insider now directly owns 18,211,357 shares of the company’s stock, valued at approximately $75,941,358.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Arc Family Trust also recently made the following trade(s):

  • On Thursday, September 8th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.27, for a total value of $213,500.00.
  • On Monday, August 29th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.31, for a total value of $215,500.00.
  • On Wednesday, August 24th, Arc Family Trust sold 84,000 shares of FTC Solar stock. The stock was sold at an average price of $4.61, for a total value of $387,240.00.
  • On Monday, August 22nd, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $4.20, for a total value of $210,000.00.
  • On Wednesday, August 17th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $4.65, for a total value of $232,500.00.
  • On Monday, August 15th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $5.19, for a total value of $259,500.00.
  • On Wednesday, August 10th, Arc Family Trust sold 84,000 shares of FTC Solar stock. The shares were sold at an average price of $5.30, for a total value of $445,200.00.
  • On Monday, August 1st, Arc Family Trust sold 92,000 shares of FTC Solar stock. The shares were sold at an average price of $4.97, for a total value of $457,240.00.
  • On Wednesday, July 27th, Arc Family Trust sold 64,000 shares of FTC Solar stock. The shares were sold at an average price of $4.10, for a total value of $262,400.00.
  • On Monday, July 25th, Arc Family Trust sold 60,000 shares of FTC Solar stock. The shares were sold at an average price of $4.01, for a total value of $240,600.00.

FTC Solar Stock Down 13.3 %

Shares of FTCI stock opened at $3.77 on Friday. The stock has a market cap of $383.69 million, a PE ratio of -3.66 and a beta of 3.33. The business has a 50-day simple moving average of $4.38 and a 200-day simple moving average of $4.38. FTC Solar, Inc. has a 52-week low of $2.12 and a 52-week high of $11.20.

FTC Solar (NASDAQ:FTCIGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. The company had revenue of $30.72 million during the quarter, compared to analyst estimates of $33.28 million. FTC Solar had a negative return on equity of 66.38% and a negative net margin of 42.67%. Sell-side analysts anticipate that FTC Solar, Inc. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FTC Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in FTCI. Rock Point Advisors LLC purchased a new stake in FTC Solar in the 1st quarter worth approximately $1,674,000. Heartland Advisors Inc. raised its stake in FTC Solar by 60.0% during the first quarter. Heartland Advisors Inc. now owns 400,000 shares of the company’s stock worth $1,972,000 after acquiring an additional 150,000 shares during the period. Qube Research & Technologies Ltd acquired a new stake in FTC Solar during the fourth quarter worth about $163,000. Raymond James & Associates raised its stake in FTC Solar by 12.6% during the fourth quarter. Raymond James & Associates now owns 223,279 shares of the company’s stock worth $1,688,000 after acquiring an additional 24,972 shares during the period. Finally, Cinctive Capital Management LP grew its position in FTC Solar by 118.8% in the 4th quarter. Cinctive Capital Management LP now owns 1,754,492 shares of the company’s stock worth $13,264,000 after purchasing an additional 952,493 shares during the last quarter. Hedge funds and other institutional investors own 25.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FTCI. Northland Securities began coverage on FTC Solar in a research note on Monday, May 23rd. They set an “outperform” rating and a $7.00 target price on the stock. Piper Sandler raised FTC Solar from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $2.00 to $3.50 in a report on Tuesday, July 19th. Raymond James cut their price objective on FTC Solar from $7.00 to $6.00 and set a “strong-buy” rating for the company in a report on Tuesday, July 12th. UBS Group boosted their price objective on FTC Solar to $8.00 in a research report on Thursday, June 9th. Finally, Roth Capital raised FTC Solar from a “neutral” rating to a “buy” rating in a research note on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.05.

FTC Solar Company Profile

(Get Rating)

FTC Solar, Inc provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites.

Featured Stories

Insider Buying and Selling by Quarter for FTC Solar (NASDAQ:FTCI)

Receive News & Ratings for FTC Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FTC Solar and related companies with MarketBeat.com's FREE daily email newsletter.