Piper Sandler lifts FTC Solar Inc. [FTCI] price estimate. Who else is bullish?

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FTC Solar Inc. [NASDAQ: FTCI] stock went on an upward path that rose over 20.05% on Thursday, amounting to a one-week price increase of more than 16.67%. The company report on July 26, 2022 that FTC Solar to Announce Second Quarter 2022 Financial Results Tuesday, August 9, 2022.


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FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software and engineering services, today announced it will report its second quarter 2022 financial results before market open on Tuesday, August 9, 2022.

A conference call for members of the investment community will be held at 8:30 a.m. E.T. that same day, during which the Company will discuss its second quarter 2022 results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of the FTC Solar corporate website at investor.ftcsolar.com. A replay of the conference call will also be available on the website for 30 days following the webcast.

Over the last 12 months, FTCI stock dropped by -52.80%. The one-year FTC Solar Inc. stock forecast points to a potential upside of 15.48. The average equity rating for FTCI stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $541.88 million, with 99.21 million shares outstanding and 37.92 million shares in the current float. Compared to the average trading volume of 1.31M shares, FTCI stock reached a trading volume of 2942146 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $5.88 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.

Piper Sandler have made an estimate for FTC Solar Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 19, 2022. The new note on the price target was released on June 06, 2022, representing the official price target for FTC Solar Inc. stock. Previously, the target price had yet another raise to $7, while Northland Capital analysts kept a Outperform rating on FTCI stock. On April 21, 2022, analysts decreased their price target for FTCI shares from 4 to 3.

The Average True Range (ATR) for FTC Solar Inc. is set at 0.44, with the Price to Sales ratio for FTCI stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 0.45.

FTCI Stock Performance Analysis:

FTC Solar Inc. [FTCI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.67. With this latest performance, FTCI shares gained by 35.98% in over the last four-week period, additionally plugging by 25.51% over the last 6 months – not to mention a drop of -52.80% 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 62.27, with the RSI for the last a single of trading hit 69.37, and the three-weeks RSI is set at 58.26 for FTC Solar Inc. [FTCI]. The present Moving Average for the last 50 days of trading for this stock 4.21, while it was recorded at 4.20 for the last single week of trading, and 5.54 for the last 200 days.

Insight into FTC Solar Inc. 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.

FTC Solar Inc. [FTCI] Insider Position Details

There are presently around $93 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 16.50% of the total institutional ownership; CINCTIVE CAPITAL MANAGEMENT LP, holding 2,585,768 shares of the stock with an approximate value of $10.71 million in FTCI stocks shares; and BLACKROCK INC., currently with $8.96 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 August and at the time of the August reporting period, where 58 institutional holders increased their position in FTC Solar Inc. [NASDAQ:FTCI] by around 7,888,072 shares. Additionally, 21 investors decreased positions by around 5,426,191 shares, while 5 investors held positions by with 9,159,424 shares. The mentioned changes placed institutional holdings at 22,473,687 shares, according to the latest SEC report filing. FTCI stock had 26 new institutional investments in for a total of 3,502,963 shares, while 10 institutional investors sold positions of 541,468 shares during the same period.

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