FTC Solar (NASDAQ:FTCI) Director David Springer Sells 100,000 Shares

FTC Solar, Inc. (NASDAQ:FTCI) Director David Springer sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $8.98, for a total value of $898,000.00. Following the sale, the director directly owned 689,222 shares in the company, valued at approximately $6,189,213.56. This trade represents a 12.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

FTC Solar Stock Performance

Shares of NASDAQ:FTCI traded down $0.57 during trading on Thursday, hitting $8.43. 121,220 shares of the stock traded hands, compared to its average volume of 120,482. The company has a market cap of $125.94 million, a price-to-earnings ratio of -1.95 and a beta of 1.46. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $6.03. FTC Solar, Inc. has a 52-week low of $2.13 and a 52-week high of $11.45.

FTC Solar (NASDAQ:FTCI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.14. The firm had revenue of $26.03 million during the quarter, compared to analyst estimates of $21.12 million. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%. FTC Solar has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that FTC Solar, Inc. will post -3.98 EPS for the current year.

Wall Street Analysts Forecast Growth

FTCI has been the topic of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $5.50 price target (up from $3.80) on shares of FTC Solar in a research note on Monday, August 18th. Roth Capital set a $15.00 price objective on shares of FTC Solar in a report on Monday. TD Cowen lifted their price target on shares of FTC Solar from $8.00 to $12.50 and gave the company a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of FTC Solar in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of FTC Solar from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.30.

Institutional Trading of FTC Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of FTCI. Jane Street Group LLC purchased a new stake in FTC Solar during the second quarter worth approximately $79,000. Goldman Sachs Group Inc. raised its stake in FTC Solar by 81.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company’s stock valued at $88,000 after acquiring an additional 13,715 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of FTC Solar by 18.4% during the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company’s stock worth $2,417,000 after purchasing an additional 53,391 shares during the last quarter. 45.36% of the stock is currently owned by institutional investors and hedge funds.

About FTC Solar

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.