Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
The average price point forecasted by analysts for FTC Solar Inc. (FTCI) is $4.94, which is $2.35 above the current market price. The public float for FTCI is 43.98M, and currently, short sellers hold a 11.84% ratio of that float. The average trading volume of FTCI on March 17, 2023 was 1.16M shares.
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FTCI) stock’s latest price update
FTC Solar Inc. (NASDAQ: FTCI)’s stock price has decreased by -6.20 compared to its previous closing price of 2.42. Nevertheless, the company has seen a loss of -16.54% in its stock price over the last five trading days. 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
FTCI’s Market Performance
FTCI’s stock has fallen by -16.54% in the past week, with a monthly drop of -18.35% and a quarterly drop of -16.24%. The volatility ratio for the week is 13.76% while the volatility levels for the last 30 days are 10.70% for FTC Solar Inc. The simple moving average for the last 20 days is -18.81% for FTCI stock, with a simple moving average of -31.21% for the last 200 days.
Analysts’ Opinion of FTCI
Many brokerage firms have already submitted their reports for FTCI stocks, with BofA Securities repeating the rating for FTCI by listing it as a “Buy.” The predicted price for FTCI in the upcoming period, according to BofA Securities is $3.50 based on the research report published on March 15th of the current year 2023.
Piper Sandler, on the other hand, stated in their research note that they expect to see FTCI reach a price target of $3.50, previously predicting the price at $2. The rating they have provided for FTCI stocks is “Neutral” according to the report published on July 19th, 2022.
FTCI Trading at -18.69% 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 -66.74% of loss for the given period.
Volatility was left at 10.70%, however, over the last 30 days, the volatility rate increased by 13.76%, as shares sank -23.83% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.36% lower at present.
During the last 5 trading sessions, FTCI fell by -16.54%, which changed the moving average for the period of 200-days by -49.56% in comparison to the 20-day moving average, which settled at $2.76. In addition, FTC Solar Inc. saw -15.30% 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 Morris Robert Phelps, who sale 18,184 shares at the price of $2.44 back on Mar 14. After this action, Morris Robert Phelps now owns 197,005 shares of FTC Solar Inc., valued at $44,369 using the latest closing price.
Hunkler Sean, the President & CEO of FTC Solar Inc., sale 5,142 shares at $2.65 during a trade that took place back on Mar 14, which means that Hunkler Sean is holding 676,672 shares at $13,626 based on the most recent closing price.
Stock Fundamentals for FTCI
Current profitability levels for the company are sitting at:
- -80.91 for the present operating margin
- -22.64 for the gross margin
The net margin for FTC Solar Inc. stands at -80.94. Equity return is now at value -108.20, with -58.60 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.97.
Conclusion
To put it simply, FTC Solar Inc. (FTCI) has had a bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
