FTC Solar (FTCI) Set to Announce Earnings on Friday

FTC Solar (NASDAQ:FTCI - Get Free Report) will release its earnings data before the market opens on Friday, May 10th. Analysts expect FTC Solar to post earnings of ($0.09) per share for the quarter. FTC Solar has set its Q1 2024 guidance at EPS.

FTC Solar (NASDAQ:FTCI - Get Free Report) last issued its earnings results on Wednesday, March 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $23.20 million during the quarter, compared to the consensus estimate of $22.80 million. FTC Solar had a negative return on equity of 59.79% and a negative net margin of 39.60%. During the same period in the previous year, the company posted ($0.16) EPS. On average, analysts expect FTC Solar to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

FTC Solar Stock Up 7.3 %

Shares of FTCI traded up $0.04 during trading hours on Tuesday, hitting $0.57. The company had a trading volume of 741,611 shares, compared to its average volume of 700,527. The business has a fifty day moving average of $0.49 and a 200-day moving average of $0.62. The firm has a market cap of $72.17 million, a price-to-earnings ratio of -1.33 and a beta of 1.62. FTC Solar has a 12 month low of $0.28 and a 12 month high of $3.87.

Insider Buying and Selling at FTC Solar

In related news, Director Ahmad R. Chatila bought 92,500 shares of FTC Solar stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of $0.54 per share, with a total value of $49,950.00. Following the acquisition, the director now owns 777,458 shares in the company, valued at approximately $419,827.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ahmad R. Chatila bought 92,500 shares of the company's stock in a transaction dated Wednesday, March 20th. The stock was bought at an average cost of $0.54 per share, for a total transaction of $49,950.00. Following the transaction, the director now owns 777,458 shares of the company's stock, valued at $419,827.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ahmad R. Chatila purchased 101,800 shares of FTC Solar stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $0.49 per share, for a total transaction of $49,882.00. Following the transaction, the director now directly owns 684,958 shares in the company, valued at approximately $335,629.42. The disclosure for this purchase can be found here. Insiders purchased 384,300 shares of company stock valued at $200,436 in the last three months. Corporate insiders own 29.70% of the company's stock.

Analyst Upgrades and Downgrades

FTCI has been the topic of several research analyst reports. HC Wainwright lowered their price target on shares of FTC Solar from $2.50 to $1.50 and set a "buy" rating on the stock in a report on Thursday, March 14th. Roth Capital lowered FTC Solar from a "buy" rating to a "neutral" rating in a report on Thursday, March 14th. Finally, Roth Mkm reissued a "neutral" rating and issued a $0.45 target price (down previously from $2.00) on shares of FTC Solar in a research report on Thursday, March 14th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $1.49.

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.