Millennium Management LLC Trims Stock Holdings in FTC Solar, Inc. (NASDAQ:FTCI)

Millennium Management LLC lowered its stake in FTC Solar, Inc. (NASDAQ:FTCI - Free Report) by 91.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,264 shares of the company's stock after selling 847,499 shares during the quarter. Millennium Management LLC owned 0.61% of FTC Solar worth $431,000 at the end of the most recent quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FTCI shares. HC Wainwright boosted their price objective on shares of FTC Solar from $1.50 to $5.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. UBS Group decreased their price objective on FTC Solar from $4.00 to $3.50 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Roth Capital set a $3.00 target price on shares of FTC Solar in a research note on Tuesday, April 1st. Finally, Roth Mkm boosted their target price on FTC Solar from $3.00 to $3.50 and gave the company a "neutral" rating in a research report on Friday, May 2nd.

Insider Buying and Selling at FTC Solar

In other news, Director Ahmad R. Chatila bought 16,740 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were acquired at an average price of $2.93 per share, with a total value of $49,048.20. Following the completion of the acquisition, the director now directly owns 1,984,708 shares in the company, valued at approximately $5,815,194.44. The trade was a 0.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 24.90% of the stock is currently owned by insiders.

FTC Solar Price Performance

Shares of FTCI stock traded down $0.01 during trading on Friday, hitting $4.58. 126,701 shares of the stock traded hands, compared to its average volume of 97,778. The firm's fifty day moving average price is $3.45 and its 200-day moving average price is $3.50. FTC Solar, Inc. has a 52-week low of $1.76 and a 52-week high of $7.40. The firm has a market capitalization of $59.92 million, a P/E ratio of -1.21 and a beta of 1.35.

About FTC Solar

FTC Solar, Inc engages in the provision of solar tracker systems, software, and engineering services in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company offers a self-powered, two-panel in-portrait, and single-axis tracker solution under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name.