FTC Solar Inc (NASDAQ:FTCI) has a beta value of 1.60 and has seen 2.21 million shares traded in the last trading session. The company, currently valued at $55.19M, closed the last trade at $0.44 per share which meant it -0.76% during that session. The FTCI stock price is -779.55% off its 52-week high price of $3.87 and 36.36% above the 52-week low of $0.28. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.98 million shares traded. The 3-month trading volume is 838.00K shares.
FTC Solar Inc (NASDAQ:FTCI) trade information
Sporting -0.76% in the red in last session, the stock has traded in the red over the last five days, when the FTCI stock price touched $0.44 or saw a rise of 16.3%. Year-to-date, FTC Solar Inc shares have moved -36.27%, while the 5-day performance has seen it change -12.64%. Over the past 30 days, the shares of FTC Solar Inc (NASDAQ:FTCI) have changed -34.56%. Short interest in the company has seen 7.53 million shares shorted with days to cover at 11.19.
FTC Solar Inc (FTCI) estimates and forecasts
Figures show that FTC Solar Inc shares have outperformed across the wider relevant industry. The company’s shares have lost -68.01% over the past 6 months, with this year growth rate of 72.41%, compared to 13.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2024 fiscal year revenue. Growth estimates for the current quarter are 28.60% and 50.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 48.90%.
6 analysts offering their estimates for the company have set an average revenue estimate of $27.11 million for the current quarter. 6 have an estimated revenue figure of $35.57 million for the next quarter concluding in Jun 2024. Year-ago sales stood $40.89 million and $32.36 million respectively for this quarter and the next, and analysts expect sales will shrink by -33.70% for the current quarter and 9.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -27.59% over the past 5 years.
FTCI Dividends
FTC Solar Inc is expected to release its next earnings report between May 08 and May 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
Insiders own 38.13% of the company shares, while shares held by institutions stand at 27.03% with a share float percentage of 43.69%. Investors are also buoyed by the number of investors in a company, with FTC Solar Inc having a total of 114 institutions that hold shares in the company. The top two institutional holders are Morgan Stanley with over 6.24 million shares worth more than $2.76 million. As of Dec 30, 2023, Morgan Stanley held 4.99% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 4.02 million shares as of Dec 30, 2023. The firm’s total holdings are worth over $1.78 million and represent 3.22% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. As of Dec 30, 2023, the former fund manager holds about 1.26% shares in the company for having 1.58 million shares of worth $0.7 million while later fund manager owns 1.57 million shares of worth $0.7 million as of Dec 30, 2023, which makes it owner of about 1.26% of company’s outstanding stock.
