Wall Street Analyst Upgrade FTC Solar Inc. [FTCI]. What else is Wall St. saying

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FTC Solar Inc. [NASDAQ: FTCI] jumped around 1.26 points on Monday, while shares priced at $5.23 at the close of the session, up 31.74%. The company report on June 2, 2022 that FTC Solar to Participate in Upcoming Investor Conferences.


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FTC Solar, Inc. (Nasdaq: FTCI), a fast-growing global provider of solar tracker systems, software and engineering services, today announced that its Chief Executive Officer Sean Hunkler and Chief Financial Officer Phelps Morris are scheduled to participate in meetings with investors at the following upcoming conferences:.

Cowen Sustainability & Energy Transition Summit – June 7, 2022, virtual. Mr. Hunkler is scheduled to speak in a fireside chat format at the conference beginning at 9:10 a.m. Eastern Time. A live webcast and replay of this event will be accessible from the Events section of FTC Solar’s website at www.ftcsolar.com.

FTC Solar Inc. stock is now -30.82% down from its year-to-date (YTD) trading value. FTCI Stock saw the intraday high of $5.31 and lowest of $4.7396 per share. The company’s 52-week high price is 13.98, which means current price is +147.28% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 1.23M shares, FTCI reached a trading volume of 8576421 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about FTC Solar Inc. [FTCI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FTCI shares is $4.69 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FTCI stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for FTC Solar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 06, 2022. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on May 23, 2022, representing the official price target for FTC Solar Inc. stock. Previously, the target price had yet another drop from $4 to $3, while Piper Sandler kept a Underweight rating on FTCI stock. On April 08, 2022, analysts decreased their price target for FTCI shares from 9 to 4.

The Average True Range (ATR) for FTC Solar Inc. is set at 0.54, with the Price to Sales ratio for FTCI stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 4.32, with the Price to Cash per share for the same quarter was set at 0.48.

How has FTCI stock performed recently?

FTC Solar Inc. [FTCI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.22. With this latest performance, FTCI shares gained by 42.90% in over the last four-week period, additionally sinking by -30.27% over the last 6 months – not to mention a drop of -51.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FTCI stock in for the last two-week period is set at 65.07, with the RSI for the last a single of trading hit 69.74, and the three-weeks RSI is set at 61.02 for FTC Solar Inc. [FTCI]. The present Moving Average for the last 50 days of trading for this stock 3.88, while it was recorded at 4.19 for the last single week of trading, and 6.38 for the last 200 days.

FTC Solar Inc. [FTCI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and FTC Solar Inc. [FTCI] shares currently have an operating margin of -46.87 and a Gross Margin at -12.03. FTC Solar Inc.’s Net Margin is presently recorded at -39.40.

Return on Equity for this stock declined to -141.82, with Return on Assets sitting at -67.80.

FTC Solar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.40.

Insider trade positions for FTC Solar Inc. [FTCI]

There are presently around $88 million, or 23.20% of FTCI stock, in the hands of institutional investors. The top three institutional holders of FTCI stocks are: INVESCO LTD. with ownership of 3,567,308, which is approximately 8.1% of the company’s market cap and around 31.80% of the total institutional ownership; CINCTIVE CAPITAL MANAGEMENT LP, holding 2,585,768 shares of the stock with an approximate value of $10.27 million in FTCI stocks shares; and BLACKROCK INC., currently with $8.59 million in FTCI stock with ownership of nearly 67.733% of the company’s market capitalization.

Positions in FTC Solar Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 54 institutional holders increased their position in FTC Solar Inc. [NASDAQ:FTCI] by around 7,576,872 shares. Additionally, 23 investors decreased positions by around 5,672,819 shares, while 5 investors held positions by with 8,845,591 shares. The mentioned changes placed institutional holdings at 22,095,282 shares, according to the latest SEC report filing. FTCI stock had 25 new institutional investments in for a total of 3,629,075 shares, while 11 institutional investors sold positions of 597,425 shares during the same period.

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