FTC Solar (NASDAQ:FTCI) Upgraded at Zacks Research

Zacks Research upgraded shares of FTC Solar (NASDAQ:FTCI) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research firms have also issued reports on FTCI. Roth Capital set a $15.00 price objective on shares of FTC Solar in a research note on Monday. UBS Group reaffirmed a “neutral” rating and issued a $5.50 price target (up previously from $3.80) on shares of FTC Solar in a research report on Monday, August 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of FTC Solar in a report on Wednesday, October 8th. Finally, TD Cowen raised their price objective on FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research note on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, FTC Solar has an average rating of “Hold” and an average price target of $8.30.

FTC Solar Stock Down 6.3%

Shares of FTC Solar stock opened at $8.43 on Tuesday. The firm has a market cap of $125.94 million, a price-to-earnings ratio of -1.95 and a beta of 1.46. The stock has a 50-day simple moving average of $8.18 and a 200-day simple moving average of $6.04. FTC Solar has a 52-week low of $2.13 and a 52-week high of $11.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.66 and a quick ratio of 1.53.

FTC Solar (NASDAQ:FTCI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.14. The firm had revenue of $26.03 million for the quarter, compared to analyst estimates of $21.12 million. FTC Solar had a negative net margin of 69.25% and a negative return on equity of 549.96%. FTC Solar has set its Q4 2025 guidance at EPS. On average, equities research analysts expect that FTC Solar will post -3.98 earnings per share for the current fiscal year.

Insider Activity at FTC Solar

In related news, Director David Springer sold 100,000 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $8.98, for a total value of $898,000.00. Following the completion of the sale, the director owned 689,222 shares in the company, valued at approximately $6,189,213.56. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.00% of the company’s stock.

Hedge Funds Weigh In On FTC Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC bought a new stake in shares of FTC Solar in the 2nd quarter worth about $79,000. Goldman Sachs Group Inc. boosted its position in FTC Solar by 81.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock valued at $88,000 after buying an additional 13,715 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in FTC Solar by 18.4% during the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock worth $2,417,000 after buying an additional 53,391 shares during the last quarter. 45.36% of the stock is currently owned by institutional investors.

FTC Solar Company 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.