In the last trading session, 2.68 million FTC Solar Inc (NASDAQ:FTCI) shares changed hands as the company’s beta touched 1.75. With the company’s per share price at $0.66 changed hands at $0.07 or 12.05% during last session, the market valuation stood at $84.30M. FTCI’s last price was a discount, traded about -109.09% off its 52-week high of $1.38. The share price had its 52-week low at $0.18, which suggests the last value was 72.73% up since then. When we look at FTC Solar Inc’s average trading volume, we note the 10-day average is 1.14 million shares, with the 3-month average coming to 6.73 million.
Analysts gave the FTC Solar Inc (FTCI) stock a consensus recommendation rating of Hold, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 5 recommended FTCI as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. FTC Solar Inc’s EPS for the current quarter is expected to be -0.07.
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FTC Solar Inc (NASDAQ:FTCI) trade information
Instantly FTCI was in green as seen at the end of in last trading. With action 36.93%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -4.73%, with the 5-day performance at 36.93% in the green. However, in the 30-day time frame, FTC Solar Inc (NASDAQ:FTCI) is 34.45% up. Looking at the short shares, we see there were 3.55 million shares sold at short interest cover period of 0.19 days.
The consensus price target for the stock as assigned by Wall Street analysts is 6, meaning bulls need an upside of 89.0% from its current market value. According to analyst projections, FTCI’s forecast low is 0.4 with 10 as the target high. To hit the forecast high, the stock’s price needs a -1415.15% plunge from its current level, while the stock would need to tank 39.39% for it to hit the projected low.
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 68.11% over the past 6 months, a -6.90% in annual growth rate that is considerably higher than the industry average of -15.60%. Year-over-year growth is forecast to reach -44.40% down 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 16.22M. 5 analysts are of the opinion that FTC Solar Inc’s revenue for the current quarter will be 30.09M. The company’s revenue for the corresponding quarters a year ago was 30.55M and 23.2M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -46.90%. The estimates for the next quarter sales put growth at 29.70%.
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 7.64%.
FTCI Dividends
FTC Solar Inc is expected to release its next quarterly earnings report in November.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 38.56% of FTC Solar Inc shares while 16.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 26.14%. There are 16.06% institutions holding the FTC Solar Inc stock share, with MORGAN STANLEY the top institutional holder. As of 2024-06-30, the company held 3.4662% of the shares, roughly 4.35 million FTCI shares worth $1.54 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 1.9533% or 2.45 million shares worth $0.87 million as of 2024-06-30.
