FTC Solar Inc (NASDAQ:FTCI)’s traded shares stood at 0.69 million during the last session, with the company’s beta value hitting 1.53. At the close of trading, the stock’s price was $5.30, to imply an increase of 26.19% or $1.1 in intraday trading. The FTCI share’s 52-week high remains $8.10, putting it -52.83% down since that peak but still an impressive 66.79% since price per share fell to its 52-week low of $1.76. The company has a valuation of $67.74M, with an average of 0.19 million shares in intraday trading volume over the past 10 days and average of 175.70K shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for FTC Solar Inc (FTCI), translating to a mean rating of 2.00. Of 10 analyst(s) looking at the stock, 0 analyst(s) give FTCI a Sell rating. 1 of those analysts rate the stock as Overweight while 5 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.77.
FTC Solar Inc (NASDAQ:FTCI) trade information
After registering a 26.19% upside in the last session, FTC Solar Inc (FTCI) has traded red over the past five days. The 5-day price performance for the stock is 76.67%, and 47.22% over 30 days. With these gigs, the year-to-date price performance is -23.50%. Short interest in FTC Solar Inc (NASDAQ:FTCI) saw shorts transact 0.6 million shares and set a 4.2 days time to cover.
The extremes give us $4 and $60 for target low and target high price respectively. As such, FTCI has been trading -1032.08% off suggested target high and 24.53% from its likely low.
FTC Solar Inc (FTCI) estimates and forecasts
Looking at statistics comparing FTC Solar Inc share performance against respective industry, we note that the company has underperformed competitors. FTC Solar Inc (FTCI) shares are 50.14% up over the last 6 months, with its year-to-date growth rate lower than industry average at -20.00% against -12.80%. The rating firms project that company’s revenue will shrink -63.78% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 11.86M. Meanwhile, for the current quarter, a total of 4 analyst(s) estimate revenue growth to 21.98M.Earnings reports from the last fiscal year show that sales brought in 23.2M and 12.59M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -48.89% before jumping 74.61% in the following quarter.
FTCI Dividends
FTC Solar Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
FTC Solar Inc (NASDAQ:FTCI)’s Major holders
FTC Solar Inc insiders hold 38.88% of total outstanding shares, with institutional holders owning 9.27% of the shares at 15.17% float percentage. In total, 9.27% institutions holds shares in the company, led by MORGAN STANLEY. As of 2024-06-30, the company held over 4.35 million shares (or 3.4662% of shares), all amounting to roughly $1.54 million.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 2.45 million shares, or about 1.9533% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $0.87 million.
