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FTC Solar Inc. (FTCI) Reveals an Earnings Mystery

FTC Solar Inc. (NASDAQ:FTCI) went up by 9.09% from its latest closing price compared to the recent 1-year high of $9.06. The company’s stock price has collected 0.88% of gains in the last five trading sessions. The Wall Street Journal reported on 06/08/21 that Clover Health, Stitch Fix, Coupa Software: What to Watch When the Stock Market Opens Today

Is It Worth Investing in FTC Solar Inc. (NASDAQ :FTCI) Right Now?

Opinions of the stock are interesting as 6 analysts out of 8 who provided ratings for FTC Solar Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $4.69, which is $2.41 above the current price. FTCI currently public float of 43.74M and currently shorts hold a 12.47% ratio of that float. Today, the average trading volume of FTCI was 1.10M shares.

FTCI’s Market Performance

FTCI stocks went up by 0.88% for the week, with a monthly jump of 12.87% and a quarterly performance of -49.45%, while its annual performance rate touched -74.18%. The volatility ratio for the week stands at 9.83% while the volatility levels for the past 30 days are set at 12.19% for FTC Solar Inc. The simple moving average for the period of the last 20 days is 6.27% for FTCI stocks with a simple moving average of -41.73% for the last 200 days.

Analysts’ Opinion of FTCI

Many brokerage firms have already submitted their reports for FTCI stocks, with Piper Sandler repeating the rating for FTCI by listing it as a “Neutral.” The predicted price for FTCI in the upcoming period, according to Piper Sandler is $3.50 based on the research report published on July 19th of the current year 2022.

Northland Capital gave a rating of “Outperform” to FTCI, setting the target price at $7 in the report published on May 23rd of the current year.

FTCI Trading at -13.01% from the 50-Day Moving Average

After a stumble in the market that brought FTCI to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -74.82% of loss for the given period.

Volatility was left at 12.19%, however, over the last 30 days, the volatility rate increased by 9.83%, as shares surge +11.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -47.59% lower at present.

During the last 5 trading sessions, FTCI rose by +0.88%, which changed the moving average for the period of 200-days by -40.93% in comparison to the 20-day moving average, which settled at $2.16. In addition, FTC Solar Inc. saw -69.84% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at FTCI starting from ARC Family Trust, who sale 60,000 shares at the price of $2.08 back on Nov 22. After this action, ARC Family Trust now owns 16,301,357 shares of FTC Solar Inc., valued at $124,800 using the latest closing price.

ARC Family Trust, the 10% Owner of FTC Solar Inc., sale 60,000 shares at $2.15 during a trade that took place back on Nov 21, which means that ARC Family Trust is holding 16,361,357 shares at $129,000 based on the most recent closing price.

Stock Fundamentals for FTCI

Equity return is now at value -92.70, with -52.30 for asset returns.

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