FTC Solar, Inc. (NASDAQ:FTCI) CEO Acquires $98,124.00 in Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt acquired 31,450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $3.12 per share, for a total transaction of $98,124.00. Following the completion of the transaction, the chief executive officer now owns 691,700 shares in the company, valued at approximately $2,158,104. The trade was a 4.76 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

FTC Solar Stock Down 1.5 %

Shares of FTCI opened at $3.29 on Wednesday. The company has a market capitalization of $42.04 million, a price-to-earnings ratio of -0.87 and a beta of 1.56. FTC Solar, Inc. has a 52-week low of $1.76 and a 52-week high of $9.56. The stock has a 50 day moving average price of $4.56 and a 200 day moving average price of $4.12.

Institutional Trading of FTC Solar

Several institutional investors have recently modified their holdings of FTCI. Geode Capital Management LLC grew its position in shares of FTC Solar by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock valued at $522,000 after buying an additional 64,325 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in FTC Solar in the second quarter valued at $42,000. XTX Topco Ltd purchased a new position in shares of FTC Solar during the third quarter worth about $81,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of FTC Solar by 527.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after purchasing an additional 83,334 shares in the last quarter. Hedge funds and other institutional investors own 45.36% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of FTC Solar in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.13.

FTC Solar Company Profile

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.