In last trading session, FTC Solar Inc (NASDAQ:FTCI) saw 3.15 million shares changing hands with its beta currently measuring 1.62. Company’s recent per share price level of $0.33 trading at -$0.03 or -9.08% at ring of the bell on the day assigns it a market valuation of $38.02M. That closing price of FTCI’s stock is at a discount of -203.03% from its 52-week high price of $1.00 and is indicating a premium of 45.45% from its 52-week low price of $0.18. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.36 million shares which gives us an average trading volume of 6.89 million if we extend that period to 3-months.
For FTC Solar Inc (FTCI), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 10 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 5 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -0.08 in the current quarter.
FTC Solar Inc (NASDAQ:FTCI) trade information
Upright in the red during last session for losing -9.08%, in the last five days FTCI remained trading in the red while hitting it’s week-highest on Thursday, 11/21/24 when the stock touched $0.33 price level, adding 25.94% to its value on the day. FTC Solar Inc’s shares saw a change of -52.76% in year-to-date performance and have moved -18.17% in past 5-day. FTC Solar Inc (NASDAQ:FTCI) showed a performance of -44.53% in past 30-days. Number of shares sold short was 3.54 million shares which calculate 2.48 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 6 to the stock, which implies a rise of 94.5% to its current value. Analysts have been projecting 0.4 as a low price target for the stock while placing it at a high target of 10. It follows that stock’s current price would drop -21.21% in reaching the projected high whereas dropping to the targeted low would mean a loss of -21.21% for stock’s current value.
FTC Solar Inc (FTCI) estimates and forecasts
Statistics highlight that FTC Solar Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -32.43% of value to its shares in past 6 months, showing an annual growth rate of -20.69% while that of industry is -20.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -63.78% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 11.86M for the same. And 4 analysts are in estimates of company making revenue of 21.98M in the next quarter. Company posted 23.2M and 12.59M of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -27.59% during past 5 years.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
Insiders are in possession of 38.55% of company’s total shares while institution are holding 9.31 percent of that, with stock having share float percentage of 15.15%. Investors also watch the number of corporate investors in a company very closely, which is 9.31% institutions for FTC Solar Inc that are currently holding shares of the company. MORGAN STANLEY is the top institutional holder at FTCI for having 4.35 million shares of worth $1.54 million. And as of 2024-06-30, it was holding 3.4662 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 2.45 million shares on 2024-06-30. The number of shares represents firm’s hold over 1.9533 of outstanding shares, having a total worth of $0.87 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 30, 2024 , the former fund manager was holding 1.61 shares of worth $0.53 million or 1.26% of the total outstanding shares. The later fund manager was in possession of 818.58 shares on Jun 30, 2024 , making its stake of worth around $0.27 million in the company or a holder of 0.64% of company’s stock.
