SG Americas Securities LLC Invests $35,000 in FTC Solar, Inc. (NASDAQ:FTCI)

SG Americas Securities LLC acquired a new stake in shares of FTC Solar, Inc. (NASDAQ:FTCI) in the fourth quarter, Holdings Channel.com reports. The firm acquired 50,582 shares of the company’s stock, valued at approximately $35,000.

Several other hedge funds have also made changes to their positions in FTCI. Electron Capital Partners LLC increased its stake in FTC Solar by 109.1% during the third quarter. Electron Capital Partners LLC now owns 4,298,357 shares of the company’s stock valued at $5,502,000 after acquiring an additional 2,242,410 shares during the period. Point72 Asset Management L.P. increased its position in shares of FTC Solar by 627.0% during the second quarter. Point72 Asset Management L.P. now owns 2,181,143 shares of the company’s stock valued at $7,023,000 after purchasing an additional 1,881,143 shares during the period. BlackRock Inc. raised its stake in shares of FTC Solar by 67.7% in the first quarter. BlackRock Inc. now owns 2,164,042 shares of the company’s stock valued at $10,670,000 after purchasing an additional 873,868 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in FTC Solar by 330.5% in the second quarter. Goldman Sachs Group Inc. now owns 999,564 shares of the company’s stock worth $3,219,000 after purchasing an additional 767,398 shares during the period. Finally, Maven Securities LTD bought a new position in FTC Solar in the third quarter worth $960,000. Institutional investors own 45.36% of the company’s stock.

FTC Solar Stock Performance

FTCI opened at $0.39 on Monday. The firm has a market cap of $48.84 million, a price-to-earnings ratio of -0.91 and a beta of 1.62. The firm’s 50-day simple moving average is $0.51 and its 200-day simple moving average is $0.69. FTC Solar, Inc. has a twelve month low of $0.28 and a twelve month high of $3.87.

FTC Solar (NASDAQ:FTCI) last issued its quarterly earnings data on Wednesday, March 13th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $23.20 million for the quarter, compared to analysts’ expectations of $22.80 million. FTC Solar had a negative net margin of 39.60% and a negative return on equity of 59.79%. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, sell-side analysts anticipate that FTC Solar, Inc. will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FTCI. Roth Mkm restated a “neutral” rating and issued a $0.45 price objective (down previously from $2.00) on shares of FTC Solar in a research note on Thursday, March 14th. HC Wainwright lowered their target price on shares of FTC Solar from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Finally, Roth Capital cut shares of FTC Solar from a “buy” rating to a “neutral” rating in a research note on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $1.49.

Insider Buying and Selling

In other FTC Solar news, insider Patrick Cook sold 48,911 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $0.53, for a total value of $25,922.83. Following the transaction, the insider now owns 1,245,205 shares of the company’s stock, valued at $659,958.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other FTC Solar news, insider Patrick Cook sold 48,911 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $0.53, for a total transaction of $25,922.83. Following the sale, the insider now owns 1,245,205 shares of the company’s stock, valued at approximately $659,958.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ahmad R. Chatila bought 92,600 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was bought at an average cost of $0.55 per share, with a total value of $50,930.00. Following the completion of the purchase, the director now owns 870,058 shares of the company’s stock, valued at approximately $478,531.90. The disclosure for this purchase can be found here. Insiders have acquired a total of 384,300 shares of company stock worth $200,436 in the last three months. Insiders own 29.70% of the company’s stock.

FTC Solar Profile

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.