Sasan Aminpour Sells 3,239 Shares of FTC Solar (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) COO Sasan Aminpour sold 3,239 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $10.93, for a total transaction of $35,402.27. Following the completion of the transaction, the chief operating officer directly owned 269,734 shares in the company, valued at $2,948,192.62. This represents a 1.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

FTC Solar Price Performance

NASDAQ:FTCI opened at $10.91 on Friday. The stock has a 50 day moving average of $9.56 and a two-hundred day moving average of $7.32. FTC Solar, Inc. has a 12 month low of $2.13 and a 12 month high of $11.99. The firm has a market cap of $163.00 million, a P/E ratio of -2.52 and a beta of 1.43. The company has a current ratio of 1.66, a quick ratio of 1.53 and a debt-to-equity ratio of 1.20.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on FTCI shares. UBS Group reaffirmed a “neutral” rating and set a $10.00 price objective (up previously from $5.50) on shares of FTC Solar in a research note on Tuesday, December 2nd. TD Cowen upped their price target on FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FTC Solar in a report on Monday. Roth Capital set a $15.00 price objective on FTC Solar in a research note on Monday, November 17th. Finally, Zacks Research raised FTC Solar from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FTCI. Vanguard Group Inc. raised its position in FTC Solar by 18.4% in the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock valued at $2,417,000 after purchasing an additional 53,391 shares during the period. Jane Street Group LLC acquired a new stake in shares of FTC Solar during the 2nd quarter worth about $79,000. Finally, Goldman Sachs Group Inc. increased its position in shares of FTC Solar by 81.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock worth $88,000 after purchasing an additional 13,715 shares during the last quarter. 45.36% of the stock is currently owned by hedge funds and other institutional investors.

FTC Solar Company Profile

FTC Solar, Inc (NASDAQ:FTCI) specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company’s tracker solutions are engineered to follow the sun’s path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.

Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.