FTC Solar (NASDAQ:FTCI) Trading 5.5% Higher - Should You Buy?

FTC Solar, Inc. (NASDAQ:FTCI - Get Free Report) traded up 5.5% during trading on Tuesday . The stock traded as high as $4.78 and last traded at $4.78. 98,360 shares were traded during trading, a decline of 63% from the average session volume of 266,700 shares. The stock had previously closed at $4.53.

Analyst Upgrades and Downgrades

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

FTC Solar Trading Down 1.7%

The business has a 50-day moving average of $3.91 and a 200-day moving average of $3.60. The stock has a market capitalization of $61.48 million, a price-to-earnings ratio of -1.26 and a beta of 1.37. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.26 and a current ratio of 1.40.

Institutional Trading of FTC Solar

An institutional investor recently raised its position in FTC Solar stock. Goldman Sachs Group Inc. lifted its holdings in shares of FTC Solar, Inc. (NASDAQ:FTCI - Free Report) by 81.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,581 shares of the company's stock after buying an additional 13,715 shares during the period. Goldman Sachs Group Inc. owned approximately 0.23% of FTC Solar worth $88,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 45.36% of the company's stock.

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.