In the last trading session, 0.61 million FTC Solar Inc (NASDAQ:FTCI) shares changed hands as the company’s beta touched 1.59. With the company’s per share price at $0.48 changed hands at $0.01 or 2.35% during last session, the market valuation stood at $59.90M. FTCI’s last price was a discount, traded about -706.25% off its 52-week high of $3.87. The share price had its 52-week low at $0.28, which suggests the last value was 41.67% up since then. When we look at FTC Solar Inc’s average trading volume, we note the 10-day average is 1.36 million shares, with the 3-month average coming to 815.62K.
FTC Solar Inc (NASDAQ:FTCI) trade information
Instantly FTCI was in green as seen at the end of in last trading. With action -3.64%, the performance over the past five days has been red. The jump to weekly highs of 0.6161 added 2.35% to the stock’s daily price. The company’s shares are showing year-to-date downside of -30.83%, with the 5-day performance at -3.64% in the red. However, in the 30-day time frame, FTC Solar Inc (NASDAQ:FTCI) is -11.26% down. Looking at the short shares, we see there were 7.53 million shares sold at short interest cover period of 11.19 days.
FTC Solar Inc (FTCI) estimates and forecasts
Data shows that the FTC Solar Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -65.53% over the past 6 months, a 48.28% in annual growth rate that is considerably higher than the industry average of 9.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for FTC Solar Inc will fall -14.30%, while the growth in revenue is estimated to hit 16.70% for the next quarter. Year-over-year growth is forecast to reach 25.10% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $13.01 million. 5 analysts are of the opinion that FTC Solar Inc’s revenue for the quarter ending Jun 2024 will be $23.8 million. The company’s revenue for the corresponding quarters a year ago was $40.89 million and $32.36 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -68.20%. The estimates for the next quarter sales put growth at -26.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -27.59%. The 2024 estimates are for FTC Solar Inc earnings to increase by 38.13%.
FTCI Dividends
FTC Solar Inc is expected to release its next quarterly earnings report between May 08 and May 13.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 38.24% of FTC Solar Inc shares while 27.00% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 43.71%. There are 27.00% institutions holding the FTC Solar Inc stock share, with Morgan Stanley the top institutional holder. As of Dec 30, 2023, the company held 4.99% of the shares, roughly 6.24 million FTCI shares worth $2.99 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 3.22% or 4.02 million shares worth $1.93 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.57 million shares estimated at $0.75 million under it, the former controlled 1.26% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.18% of the shares, roughly 1.47 million shares worth around $0.71 million.
