FTC Solar, Inc. (NASDAQ:FTCI) Given Average Rating of “Hold” by Brokerages

Shares of FTC Solar, Inc. (NASDAQ:FTCI) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.50.

Separately, HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of FTC Solar in a research note on Wednesday, November 13th.

Institutional Investors Weigh In On FTC Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in FTC Solar by 9.2% in the third quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock worth $522,000 after acquiring an additional 64,325 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of FTC Solar by 527.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock valued at $35,000 after buying an additional 83,334 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of FTC Solar during the 3rd quarter worth $81,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in FTC Solar in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.

FTC Solar Stock Down 8.0 %

FTC Solar stock opened at $3.20 on Friday. The company has a fifty day simple moving average of $4.66 and a 200-day simple moving average of $4.17. FTC Solar has a 52-week low of $1.76 and a 52-week high of $9.99. The firm has a market capitalization of $40.89 million, a price-to-earnings ratio of -0.84 and a beta of 1.57.

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.