Yann Brandt Sells 37,775 Shares of FTC Solar (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt sold 37,775 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $10.84, for a total transaction of $409,481.00. Following the transaction, the chief executive officer directly owned 776,425 shares in the company, valued at approximately $8,416,447. This represents a 4.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

FTC Solar Price Performance

Shares of NASDAQ:FTCI opened at $10.91 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 1.20. The stock has a market cap of $163.00 million, a PE ratio of -2.52 and a beta of 1.43. The company’s fifty day moving average is $9.56 and its 200 day moving average is $7.32. FTC Solar, Inc. has a 52 week low of $2.13 and a 52 week high of $11.99.

FTC Solar (NASDAQ:FTCI) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.14. The business had revenue of $26.03 million during 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%. Research analysts anticipate that FTC Solar, Inc. will post -3.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new stake in shares of FTC Solar during the 2nd quarter valued at about $79,000. Goldman Sachs Group Inc. lifted its holdings in FTC Solar by 81.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock worth $88,000 after buying an additional 13,715 shares during the period. Finally, Vanguard Group Inc. boosted its position in FTC Solar by 18.4% during the 3rd quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock valued at $2,417,000 after acquiring an additional 53,391 shares in the last quarter. 45.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.