In today’s recent session, 1.1 million shares of the FTC Solar Inc (NASDAQ:FTCI) have been traded, and its beta is 1.56. Most recently the company’s share price was $0.26, and it changed around $0.01 or 3.89% from the last close, which brings the market valuation of the company to $32.62M. FTCI at last check was trading at a discount to its 52-week high of $2.11, offering almost -711.54% off that amount. The share price’s 52-week low was $0.18, which indicates that the recent value has risen by an impressive 30.77% since then. We note from FTC Solar Inc’s average daily trading volume that its 10-day average is 1.42 million shares, with the 3-month average coming to 866.59K.
FTC Solar Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended FTCI as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. FTC Solar Inc is expected to report earnings per share of -0.07 for the current quarter.
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FTC Solar Inc (NASDAQ:FTCI) trade information
Instantly FTCI has been showing a green trend so far today with a performance of 3.89% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.3151 on recent trading dayincreased the stock’s daily price by 17.49%. The company’s shares are currently down -63.03% year-to-date, but still down -7.88% over the last five days. On the other hand, FTC Solar Inc (NASDAQ:FTCI) is -36.29% down in the 30-day period. We can see from the shorts that 5.52 million shares have been sold at a short interest cover period of 9.98 day(s).
The consensus price target as assigned by Wall Street analysts is $6, which translates to bulls needing to increase their stock price by 95.67% from its current value. Analyst projections state that FTCI is forecast to be at a low of $0.4 and a high of $10.
FTC Solar Inc (FTCI) estimates and forecasts
FTC Solar Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -53.10 percent over the past six months and at a 10.34% annual growth rate that is well above the industry average of -9.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 12.50% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be -44.40%, down from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 16.22M in revenue for the current quarter. 5 analysts expect FTC Solar Inc to make 30.09M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 30.55M and 23.2M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -46.90%. Forecasts for the next quarter put sales growth at 29.70%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -27.59%.
FTCI Dividends
FTC Solar Inc’s next quarterly earnings report is expected to be released on 2024-Nov-06.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 43.56% of FTC Solar Inc shares, and 16.37% of them are in the hands of institutional investors. The stock currently has a share float of 29.00%. FTC Solar Inc stock is held by 94.0 institutions, with MORGAN STANLEY being the largest institutional investor. By 2024-06-30, it held 3.4662% of the shares, which is about 4.35 million shares worth $1.54 million.
VANGUARD GROUP INC, with 1.9533% or 2.45 million shares worth $0.87 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Mar 31, 2024. The former held 1.57 shares worth $0.41 million, making up 1.24% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 818.58 shares worth around $0.21 million, which represents about 0.64% of the total shares outstanding.
