FTC Solar (NASDAQ:FTCI - Get Free Report) had its price objective decreased by research analysts at TD Cowen from $8.00 to $5.00 in a report issued on Wednesday. The firm presently has a "buy" rating on the stock. TD Cowen's price objective would suggest a potential upside of 44.93% from the stock's previous close.
A number of other analysts have also recently commented on FTCI. Weiss Ratings restated a "sell (d-)" rating on shares of FTC Solar in a report on Friday, March 27th. Wall Street Zen downgraded FTC Solar from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective (up from $5.00) on shares of FTC Solar in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, FTC Solar has a consensus rating of "Hold" and a consensus price target of $12.50.
View Our Latest Report on FTC Solar
FTC Solar Stock Down 33.1%
NASDAQ FTCI opened at $3.45 on Wednesday. The firm has a market capitalization of $53.77 million, a PE ratio of -0.62 and a beta of 1.81. The stock's 50 day moving average is $4.88 and its 200 day moving average is $8.17. FTC Solar has a twelve month low of $2.90 and a twelve month high of $12.75.
Hedge Funds Weigh In On FTC Solar
Several hedge funds and other institutional investors have recently modified their holdings of FTCI. Walleye Capital LLC bought a new stake in shares of FTC Solar in the fourth quarter worth $1,482,000. Electron Capital Partners LLC purchased a new position in FTC Solar in the fourth quarter worth about $979,000. Informed Momentum Co LLC bought a new stake in shares of FTC Solar during the 4th quarter valued at about $836,000. Marshall Wace LLP purchased a new stake in shares of FTC Solar during the 4th quarter valued at about $762,000. Finally, Captrust Financial Advisors purchased a new stake in shares of FTC Solar during the 4th quarter valued at about $745,000. 45.36% of the stock is owned by institutional investors.
FTC Solar Company Profile
(
Get Free Report)
FTC Solar, Inc NASDAQ: FTCI specializes in the design, manufacturing and deployment of solar tracker systems for utility-scale photovoltaic power plants. The company's tracker solutions are engineered to follow the sun's path and optimize energy capture, helping customers maximize the performance of their solar assets. In addition to its core mechanical tracker products, FTC Solar offers advanced supervisory control and data acquisition (SCADA) software that enables remote monitoring, predictive maintenance and performance analytics.
Headquartered in Austin, Texas, FTC Solar supports large-scale solar projects across multiple regions, including North America, Latin America, Europe and the Middle East.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider FTC Solar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FTC Solar wasn't on the list.
While FTC Solar currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
