FTC Solar Inc. (NASDAQ:FTCI) saw an upside of 2.13% to close Tuesday at $6.70 after adding $0.14 on the day. The 5-day average trading volume is 796,740 shares of the company’s common stock. It has gained $7.07 in the past week. An average of 799,545 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 562,050.
FTCI’s 1-month performance is -32.46% or -$2.89 on its low of $6.42 reached on 10/06/21. The company’s shares have touched a 52-week low of $6.42 and high of $15.46. YTD, FTCI has lost -53.02%. However, the current price is down -56.66%% from the 52-week high price.
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FTC Solar Inc. (FTCI) has a trailing price-to-earnings (P/E) ratio of 31.10 for the broader industry and 36.86 for the sector.FTCI stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.55 while the price-to-book (PB) in the most recent quarter is 2.94.
FTC Solar Inc.’s quick ratio for the period ended June 29 was 4.10, with the current ratio over the same period at 4.30 meaning that FTCI stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.00The trailing 12-month EBITDA margin is -9.01%. The firm’s gross profit as reported stood at -$16.93 million against revenue of $187.35 million.
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 100.0% to $50.11 million, while revenue of $65.71 million was -31.13% off the previous quarter. Analysts expected FTCI to announce -$0.13 per share in earnings in its latest quarter, but it posted -$0.21, representing a -61.50% surprise. EBITDA for the quarter stood at more than -$75.93 million. FTCI stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 59.89 million. Shareholders hold equity totaling $84.3 million
Let’s look briefly at FTC Solar Inc. (FTCI) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 25.41% to suggest the stock is trending oversold, with historical volatility in this time period at 65.41%.
The stock’s 5-day moving average is $6.68, reflecting a +0.15% or $0.01 change from its current price. FTCI is currently trading -31.07% above its 20-day SMA, -22.81% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -34.38%.
Stochastic %K and %D was 10.77% and 11.12% and the average true range (ATR) pointed at 0.45. The RSI (14) points at 25.89%, while the 14-day stochastic is at 11.02% with the period’s ATR at 0.48. The stock’s 9-day MACD Oscillator is pointing at -0.23 and -0.64 on the 14-day charts.
In the most recent analyst report for FTC Solar Inc. (NASDAQ: FTCI), Piper Sandler launched coverage with an Overweight rating. Analysts offering their rating for FTCI stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate FTCI as a “sell,”, while 2 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 6 have offered a “buy” rating.
What is FTCI’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $11.00 and a high of $23.00, with their median price target at $13.00. Looking at these predictions, the average price target given by analysts is for FTC Solar Inc. (FTCI) stock is $14.44.