Yann Brandt Acquires 31,450 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt acquired 31,450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $3.12 per share, for a total transaction of $98,124.00. Following the completion of the purchase, the chief executive officer now directly owns 691,700 shares of the company’s stock, valued at $2,158,104. This trade represents a 4.76 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

FTC Solar Stock Performance

NASDAQ:FTCI opened at $3.01 on Thursday. The firm’s 50-day moving average is $4.52 and its 200-day moving average is $4.11. The company has a market cap of $38.46 million, a price-to-earnings ratio of -0.79 and a beta of 1.56. FTC Solar, Inc. has a 52-week low of $1.76 and a 52-week high of $8.90.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of FTC Solar in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.13.

Hedge Funds Weigh In On FTC Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FTCI. Geode Capital Management LLC lifted its position in shares of FTC Solar by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock worth $522,000 after acquiring an additional 64,325 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of FTC Solar in the second quarter valued at $42,000. XTX Topco Ltd bought a new position in FTC Solar in the third quarter worth $81,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in FTC Solar by 527.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after buying an additional 83,334 shares in the last quarter. 45.36% of the stock is currently 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.