FTC Solar, Inc. (NASDAQ:FTCI) Director Tamara Mullings Sells 5,163 Shares
Tamara Mullings, the Director of FTC Solar, Inc., recently sold 5,163 shares of the company's stock. The transaction took place on July 13th and the shares were sold at an average price of $3.30, resulting in a total transaction value of $17,037.90. After the sale, Mullings still holds 270,996 shares in the company, which are worth approximately $894,286.80. This information was disclosed in a filing with the Securities & Exchange Commission and can be found on the SEC website.
In addition, Tamara Mullings has also recently engaged in the following business transaction(s):
Solar Panels: FTC's Affordable Efficiency
The shares of FTC Solar, Inc., which are listed on the NASDAQ exchange under the ticker symbol FTCI, experienced a decrease of $0.10 in their trading price on Friday. The stock reached a value of $3.13 during the trading hours. A total of 896,011 shares were traded that day, which is slightly lower than the average volume of 1,446,573 shares. When examining the stock's performance over a period of fifty days, the simple moving average is calculated to be $2.90. Similarly, the 200-day simple moving average is determined to be $2.72. FTC Solar, Inc. has recorded a 1-year low of $1.78 and a 1-year high of $5.66, indicating significant fluctuation in its value over the past year.
FTC Solar recently released its financial results for the quarter ending on May 10th. The company exceeded expectations by reporting an EPS of ($0.11), surpassing the estimated ($0.14) by $0.03. Additionally, FTC Solar generated $40.89 million in revenue for the quarter, exceeding analyst predictions of $38.52 million. The company's net margin and return on equity were both negative, standing at 73.06% and 94.60% respectively. Analysts predict that FTC Solar, Inc. will have an earnings per share of -0.3 for the current year.
Analysts Forecast Wall Street Growth
Multiple equity research analysts recently provided their assessments of FTCI shares. UBS Group lowered their target price for shares of FTC Solar from $5.00 to $4.00 in a research report on Wednesday, March 29th. HC Wainwright initiated coverage on shares of FTC Solar in a research report on Thursday, April 13th, assigning a "buy" rating and setting a target price of $5.00. Lastly, Raymond James lowered their target price for shares of FTC Solar from $5.00 to $4.00 and issued a "strong-buy" rating on the stock in a research report on Wednesday, April 5th.
Money In & Out
A number of large investors and investment firms have recently made changes to their ownership of FTC Solar (FTCI). In the first quarter, Advisor Group Holdings Inc. significantly increased its holdings in the company, now owning 28,114 shares valued at $139,000. JPMorgan Chase & Co. also boosted its ownership by 37.5%, now holding 358,303 shares worth $1,767,000. Bank of New York Mellon Corp increased its ownership by 96.3%, now owning 109,835 shares worth $542,000. Cambridge Investment Research Advisors Inc. purchased a new stake in FTC Solar with a value of approximately $52,000. Additionally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings by 4.2%, now owning 90,749 shares worth $447,000. In total, institutional investors currently own 31.30% of the company's stock.
FTC Solar: A Brief Overview
FTC Solar, Inc offers solar tracking systems, software, and engineering services both domestically and globally. They provide a range of solutions, including the Voyager brand name which features two-panel in-portrait single-axis trackers. Moreover, the company offers Pioneer, a solar tracker solution that allows for a reduction in the number of piles needed per megawatt by accommodating one module-in-portrait.
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