FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila Acquires 16,740 Shares

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila purchased 16,740 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were acquired at an average cost of $2.93 per share, for a total transaction of $49,048.20. Following the completion of the transaction, the director now directly owns 1,984,708 shares in the company, valued at approximately $5,815,194.44. This represents a 0.85 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

FTC Solar Stock Performance

Shares of FTCI stock opened at $2.57 on Friday. FTC Solar, Inc. has a 52-week low of $1.76 and a 52-week high of $7.40. The stock has a market cap of $33.03 million, a price-to-earnings ratio of -0.68 and a beta of 1.26. The firm’s 50-day moving average is $3.13 and its 200-day moving average is $4.13.

Institutional Trading of FTC Solar

A hedge fund recently raised its stake in FTC Solar stock. Geode Capital Management LLC increased its holdings in shares of FTC Solar, Inc. (NASDAQ:FTCI) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 766,863 shares of the company’s stock after acquiring an additional 64,325 shares during the quarter. Geode Capital Management LLC owned about 0.60% of FTC Solar worth $522,000 as of its most recent SEC filing. Institutional investors own 45.36% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on FTCI shares. UBS Group dropped their target price on FTC Solar from $4.00 to $3.50 and set a “neutral” rating on the stock in a report on Wednesday. Roth Mkm upped their price objective on FTC Solar from $0.50 to $3.00 and gave the stock a “neutral” rating in a research note on Tuesday.

About FTC Solar

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.