An FTC Solar Inc. (FTCI) 10% Owner Buys 5732.0 Shares

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FTC Solar Inc. (NASDAQ:FTCI) finished Friday with an addition of $0.13 to close at $2.68, an upside of 5.10 percent. An average of 857,840 shares of common stock have been traded in the last five days. There was a gain of $0.21 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,045,615 shares traded, while the 50-day average volume stands at 1,269,670.

FTCI stock has increased by 26.42% in the last month. The company shares reached their 1-month lowest point of $2.02 on 12/01/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $1.78 and a high of $7.75 in 52 weeks. It has reached a new high 2 times so far this year and lost -64.55% or -$4.88 in price. In spite of this, the price is down -65.42% from the 52-week high.


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Insider Transactions

FTCI stock investors should be aware that FTC Solar Inc. (FTCI) stock had its last reported insider trading activity 25 days ago on Dec 14. In this transaction, the insider spent $202,008. CHIEF ACCOUNTING OFFICER, Behnen Cathy, disposed of 2,180 shares at a price of $2.25 on Dec 06. The insider now owns more than $4,905 worth of shares. Prior to that, Chief Commercial Officer Cook Patrick went on to Sale 8,646 shares at $2.12 each on Dec 01. An amount of $18,330 was transacted.

Valuation Metrics

FTC Solar Inc. (FTCI) has a trailing price-to-sales (P/S) ratio at 1.45, the price-to-book (PB) ratio at 3.35.

Financial Health

The quick ratio of FTC Solar Inc. for the three months ended September 29 was 1.90, and the current ratio was 2.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending September 29. Its gross profit as reported stood at -$126.8 million compared to revenue of $270.52 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, FTC Solar Inc.’s return on assets was -52.30%.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$25.64 million in the quarter, while revenues of -$25.68 million were grew 10.61%. The analyst consensus anticipated FTC Solar Inc.’s latest quarter earnings to come in at -$0.18 per share, but it turned out to be -$0.17, a 5.60% surprise. For the quarter, EBITDA amounted to -$26.2 million. Shareholders own equity worth $103.29 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at FTC Solar Inc. (FTCI) price momentum. RSI 9-day as of the close on 30 December was 60.04%, suggesting the stock is Neutral, with historical volatility in this time frame at 100.71%.

As of today, FTCI’s price is $2.42 +8.50% or $0.21 from its 5-day moving average. FTCI is currently trading +17.54% higher than its 20-day SMA and -43.82% lower than its 100-day SMA. However, the stock’s current price level is +22.94% above the SMA50 and -57.26% below the SMA200.

The stochastic %K and %D were 41.62% and 30.44%, respectively, and the average true range (ATR) was 0.24. With the 14-day stochastic at 63.03% and the average true range at 0.24, the RSI (14) stands at 56.98%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at -0.02.

Analyst Ratings

Piper Sandler upgraded FTC Solar Inc. (NASDAQ: FTCI) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for FTC Solar Inc. (FTCI) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FTCI, while 1 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.

What is FTCI’s price target for the next 12 months?

Analysts predict a range of price targets between $2.00 and $9.00, with a median target of $4.50. Taking a look at these predictions, the average price target given by analysts for FTC Solar Inc. (FTCI) stock is $4.69.

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