Healthcare of Ontario Pension Plan Trust Fund Sells 33,078 Shares of FTC Solar, Inc. (NASDAQ:FTCI)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in FTC Solar, Inc. (NASDAQ:FTCI – Get Rating) by 28.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,308 shares of the company’s stock after selling 33,078 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of FTC Solar worth $241,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. UBS Group AG lifted its holdings in shares of FTC Solar by 41.6% in the third quarter. UBS Group AG now owns 18,462 shares of the company’s stock valued at $55,000 after purchasing an additional 5,428 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of FTC Solar by 3.4% in the third quarter. Raymond James & Associates now owns 212,169 shares of the company’s stock valued at $628,000 after purchasing an additional 6,922 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of FTC Solar by 70.6% in the first quarter. California State Teachers Retirement System now owns 17,619 shares of the company’s stock valued at $87,000 after purchasing an additional 7,293 shares in the last quarter. PDT Partners LLC lifted its holdings in shares of FTC Solar by 14.6% in the second quarter. PDT Partners LLC now owns 78,352 shares of the company’s stock valued at $284,000 after purchasing an additional 9,955 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of FTC Solar by 101.0% in the first quarter. American International Group Inc. now owns 20,321 shares of the company’s stock valued at $100,000 after purchasing an additional 10,212 shares in the last quarter. Institutional investors own 28.59% of the company’s stock.

FTC Solar Stock Performance

Shares of NASDAQ FTCI opened at $2.87 on Friday. The stock has a market cap of $296.44 million, a PE ratio of -2.90 and a beta of 1.84. FTC Solar, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $6.82. The stock has a fifty day moving average of $2.75 and a 200-day moving average of $2.90.

Insider Activity

In other FTC Solar news, major shareholder South Cone Investments Limited acquired 36,859 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The stock was bought at an average price of $2.39 per share, with a total value of $88,093.01. Following the completion of the purchase, the insider now owns 14,689,609 shares of the company’s stock, valued at $35,108,165.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Robert Phelps Morris sold 16,839 shares of FTC Solar stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $2.57, for a total transaction of $43,276.23. Following the completion of the sale, the chief financial officer now owns 204,740 shares of the company’s stock, valued at $526,181.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder South Cone Investments Limited acquired 36,859 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were acquired at an average cost of $2.39 per share, with a total value of $88,093.01. Following the purchase, the insider now directly owns 14,689,609 shares of the company’s stock, valued at approximately $35,108,165.51. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 126,257 shares of company stock worth $307,352 and sold 667,829 shares worth $1,805,610. 44.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Credit Suisse Group dropped their price target on FTC Solar to $6.00 in a report on Wednesday, November 16th. Northland Securities dropped their price target on FTC Solar to $4.00 in a report on Tuesday, November 15th. Piper Sandler dropped their price target on FTC Solar to $2.50 in a report on Wednesday, November 16th. Finally, Raymond James dropped their price target on FTC Solar from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FTC Solar presently has a consensus rating of “Moderate Buy” and an average target price of $5.31.

FTC Solar Company Profile

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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.