The stock of FTC Solar Inc. (NASDAQ:FTCI) decreased by decreased by -$0.17 on Friday to finish at $7.65, down -2.17 percent. The last five days have seen an average of 1,506,280 shares of common stock traded. The average number of shares traded over the last 20 days was 1,004,240, while the average volume over the last 50 days totaled 687,466.
FTCI stock dropped -10.94% since last month. On 10/18/21, the company’s shares reached a one-month low of $6.22. The stock touched a high of $15.46, after rallying from a low of $6.22 in 52 weeks. The price of FTCI stock has declined by -46.35%. Still, the stock price is down -50.52% from the 52-week high.
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There have been 178 days since FTC Solar Inc. (FTCI) last reported insider trading activity on Apr 30. On Apr 30, Director PRIDDY WILLIAM A acquired 769 shares at $13.00 each. This transaction resulted in the insider spending $9,997.
For the three months ended June 29, FTC Solar Inc.’s quick ratio was 4.10, while its current ratio was 4.30, indicating its ability to pay off its debt. Based on annual data, it had gross profit of -$16.93 million and revenue of $187.35 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. There was a -182.20% return on investment (ROI) in the past year. ROE has averaged -0.25 in the past year for the broader industry.
According to FTC Solar Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $50.11 million, while revenues rose by 100.0% to $65.71 million. It was predicted that FTC Solar Inc.’s quarterly earnings would be -$0.21, but it ended up being -$0.13, beating the consensus by -61.50%. EBITDA was -$75.93 million for the quarter. Equity owned by shareholders amounts to $84.3 million.
Here’s a quick look at FTC Solar Inc.’s (FTCI) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 59.06%, suggesting the stock is Neutral, with a 67.40% historical volatility rate.
The stochastic %K and %D were 71.01% and 52.94% respectively, while the average true range (ATR) was 0.53. Based on the 14-day stochastic reading of 74.09%, the RSI (14) reading is 50.61%. On the 9-day MACD Oscillator, the stock is at 0.61, and the 14-day reading is at 0.70.
In its most recent analyst report, Barclays raised its rating on FTC Solar Inc. (NASDAQ: FTCI) to an Overweight. Prior to this, analysts firm rated the stock as an Equal weight. Analysts have assigned FTC Solar Inc. (FTCI) an Buy rating. FTCI is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 7 others recommend it as a buy.
What is FTCI’s price target for the next 12 months?
The current consensus forecast for the stock is between $9.00 and $23.00, with a median target price of $12.50. In analyzing these forecasts, the average price target given by analysts for FTC Solar Inc. (FTCI) is $13.63.