FTC Solar (NASDAQ:FTCI) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• FTC Solar's stock received a "sell (E+)" rating from Weiss Ratings, indicating a negative outlook from analysts.
• UBS Group raised its target price for FTC Solar shares to $5.50, while the average price target among analysts is $4.25.
• Recently, Jane Street Group LLC acquired a new position in FTC Solar, increasing institutional ownership to 45.36% of the company's stock.

FTC Solar (NASDAQ:FTCI - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, UBS Group reiterated a "neutral" rating and issued a $5.50 target price (up previously from $3.80) on shares of FTC Solar in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, FTC Solar presently has a consensus rating of "Hold" and an average price target of $4.25.

FTC Solar Stock Up 2.2%

NASDAQ FTCI opened at $7.93 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.04 and a current ratio of 1.16. The firm has a 50-day simple moving average of $6.47 and a 200 day simple moving average of $4.77. FTC Solar has a twelve month low of $2.13 and a twelve month high of $8.12. The stock has a market cap of $118.00 million, a PE ratio of -2.02 and a beta of 1.43.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in FTC Solar stock. Jane Street Group LLC purchased a new position in shares of FTC Solar, Inc. (NASDAQ:FTCI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,465 shares of the company's stock, valued at approximately $79,000. Jane Street Group LLC owned 0.12% of FTC Solar as of its most recent SEC filing. 45.36% of the stock is owned by institutional investors.

FTC Solar Company Profile

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.

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