As of Friday close, FTC Solar Inc.’s (NASDAQ:FTCI) stock was up $0.04, moving up 2.96 percent to $1.39. The average number of shares traded per day over the past five days has been 2,567,460 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0300 fall in that time frame. In the last twenty days, the average volume was 1,860,295, while in the previous 50 days, it was 1,965,816.
Since last month, FTCI stock retreated -27.23%. Shares of the company fell to $1.2700 on 09/22/23, the lowest level in the past month. A 52-week high of $3.87 was reached on 08/01/23 after having rallying from a 52-week low of $1.30. Since the beginning of this year, FTCI’s stock price has dropped by -48.13% or -$1.2900, and marked a new high 13 times. However, the stock has declined by -64.08% since its 52-week high.
FTCI stock investors should be aware that FTC Solar Inc. (FTCI) stock had its last reported insider trading activity 9 days ago on Sep 14. Morris Robert Phelps, the Chief Financial Officer of the company, purchased of 72,000 shares for $1.40 on Sep 14. It resulted in a $100,800 investment by the insider. PRIDDY WILLIAM A added 17,000 shares at an average price of $1.43 on Sep 14. The insider now owns 357,032 shares following the transaction. On Sep 14, 10% Owner ARC Family Trust sold 50,000 shares at $1.40 apiece. The transaction was valued at $70,000.
Valuation Metrics
The stock’s beta is 2.09. Besides these, the trailing price-to-sales (P/S) ratio of 1.38, the price-to-book (PB) ratio of 1.99.
Financial Health
In the three months ended June 29, FTC Solar Inc.’s quick ratio stood at 2.20, while its current ratio was 2.40, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is -6.20% percent. In the year ended June 29, EBITDA margin amounted to -80.18%, whereas operating margins totaled -59.70%. Based on annual data, FTCI earned -$99.57 million in gross profit and brought in $123.07 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -150.40%. Return on equity (ROE) for the past 12 months was -92.40%.
According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. FTCI’s revenue rose 4.6% to $40.89 million during the quarter, while net income inched up to $32.2 million. While analysts expected FTC Solar Inc. to report -$0.04 quarterly earnings, the actual figure was -$0.06 per share. During the quarter, the company generated -$9.86 million in EBITDA. The liabilities of FTC Solar Inc. were 58.04 million at the end of its most recent quarter ended June 29, and its total debt was $2.3 million. The value of shareholders’ equity is $118.11 million.
Technical Picture
This quick technical analysis looks at FTC Solar Inc.’s (FTCI) price momentum. With a historical volatility rate of 104.68%, the RSI 9-day stood at 33.53% on 22 September.
With respect to its five-day moving average, the current FTC Solar Inc. price is down by -2.11% percent or -$0.0300. At present, FTCI shares trade -23.63% below its 20-day simple moving average and -47.35% percent below its 100-day simple moving average. However, the stock is currently trading approximately -56.97% below its SMA50 and -42.32% below its SMA200.
Stochastic coefficient K was 14.86% and Stochastic coefficient D was 15.64%, while ATR was 0.1586. Given the Stochastic reading of 16.00% for the 14-day period, the RSI (14) reading has been calculated as 32.15%.
Analyst Ratings
FTC Solar Inc. downgraded its rating on FTC Solar Inc. (NASDAQ: FTCI) to a Neutral in a note to investors on August 15, 2023. The analysts firm previously had a Buy rating on the stock.FTC Solar Inc. (FTCI) has been rated Overweight by analysts. According to 0 brokerage firms, FTCI is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate FTC Solar Inc. stock as buy, with 6 recommending it as overweight.
With a median target price of $3.90, the current consensus forecast for the stock is $2.50 – $9.00. Based on these forecasts, analysts predict FTC Solar Inc. (FTCI) will achieve an average price target of $4.29.
