In the last trading session, 8.89 million shares of the FTC Solar Inc (NASDAQ:FTCI) were traded, and its beta was 1.45. Most recently the company’s share price was $0.46, and it changed around $0.08 or 21.57% from the last close, which brings the market valuation of the company to $58.08M. FTCI currently trades at a discount to its 52-week high of $1.57, offering almost -241.3% off that amount. The share price’s 52-week low was $0.18, which indicates that the current value has risen by an impressive 60.87% since then. We note from FTC Solar Inc’s average daily trading volume that its 10-day average is 35.72 million shares, with the 3-month average coming to 6.37 million.
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.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
FTC Solar Inc (NASDAQ:FTCI) trade information
Instantly FTCI has showed a green trend with a performance of 21.57% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 0.5758 on recent trading dayincreased the stock’s daily price by 20.11%. The company’s shares are currently down -34.18% year-to-date, but still up 114.08% over the last five days. On the other hand, FTC Solar Inc (NASDAQ:FTCI) is 89.92% up in the 30-day period. We can see from the shorts that 5.46 million shares have been sold at a short interest cover period of 4.6 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 92.33% 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 risen 3.28 percent over the past six months and at a 10.34% annual growth rate that is well above the industry average of -8.60%. 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 in October.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 43.72% of FTC Solar Inc shares, and 16.32% of them are in the hands of institutional investors. The stock currently has a share float of 28.99%. FTC Solar Inc stock is held by 92.0 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.
