FTC Solar (NASDAQ:FTCI) Trading Up 5.9% – Still a Buy?

FTC Solar, Inc. (NASDAQ:FTCI)’s share price was up 5.9% on Friday . The stock traded as high as $8.12 and last traded at $8.07. Approximately 154,197 shares changed hands during trading, an increase of 190% from the average daily volume of 53,175 shares. The stock had previously closed at $7.62.

Analyst Ratings Changes

Separately, UBS Group reissued a “neutral” rating and set a $5.50 price target (up previously from $3.80) on shares of FTC Solar in a research report on Monday, August 18th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, FTC Solar has a consensus rating of “Hold” and a consensus target price of $4.25.

FTC Solar Stock Performance

The firm has a market capitalization of $120.08 million, a PE ratio of -2.06 and a beta of 1.41. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.16 and a quick ratio of 1.04. The stock has a 50-day moving average price of $5.90 and a 200-day moving average price of $4.35.

Hedge Funds Weigh In On FTC Solar

A hedge fund recently raised its stake in FTC Solar stock. Goldman Sachs Group Inc. boosted its position in FTC Solar, Inc. (NASDAQ:FTCI) by 81.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,581 shares of the company’s stock after purchasing an additional 13,715 shares during the period. Goldman Sachs Group Inc. owned approximately 0.23% of FTC Solar worth $88,000 as of its most recent SEC filing. Hedge funds and other 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.