Invesco Capital Management LLC recently announced the acquisition of new stake in FTC Solar Inc. (NASDAQ:FTCI). The institutional investor has increased its shareholding in the Technology company by 13.13% to 5.18 million shares with purchase of 0.6 million shares. This fresh investment now brings its stake to 4.88% valued currently at $14.14 million. In addition, Cinctive Capital Management LP raised its holdings by 0.76 million to 3.68 million shares. And BlackRock Fund Advisors has lifted its position by 1.46% or 43483.0 shares – to 3.02 million shares.
With over 1.44 million FTC Solar Inc. (FTCI) shares trading Monday and a closing price of $3.38 on the day, the dollar volume was approximately $4.87 million. The shares have shown a positive half year performance of 46.96% and its price on 05/22/23 gained nearly 9.74%. Currently, there are 106.79M common shares owned by the public and among those 43.98M shares have been available to trade.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for FTCI have a consensus price objective of $4.61. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $3.00. The average price target is 26.68% above its recent price level and a downside to the estimated low will see the stock lose -12.67% over that period. But an upside of 62.44% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 216 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 54 of these insider trades were purchases, accounting for 2,462,183 shares. Insider sales of the common stock occurred on 162 occasions, with total insider shares sold totaling 8,351,051 shares.
The top 3 mutual fund holders in FTC Solar Inc. are Invesco WilderHill Clean Energy E, Handelsbanken Hallbar Energi, and Vanguard Total Stock Market ETF. Invesco WilderHill Clean Energy E owns 4.65 million shares of the company’s stock, all valued at over $12.71 million. Vanguard Total Stock Market ETF now owns shares totaling to 1.39% of the shares outstanding.
Shares of FTC Solar Inc. (NASDAQ: FTCI) opened at $3.09, up $0.01 from a prior closing price of $3.08. However, the script later moved the day high at 3.4200, up 9.74%. The company’s stock has a 5-day price change of -0.59% and 25.19% over the past three months. FTCI shares are trading 26.12% year to date (YTD), with the 12-month market performance down to -18.36% lower. It has a 12-month low price of $1.78 and touched a high of $6.14 over the same period. FTCI has an average intraday trading volume of 1.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.18%, 32.13%, and 16.88% respectively.
Institutional ownership of FTC Solar Inc. (NASDAQ: FTCI) shares accounts for 29.80% of the company’s 106.79M shares outstanding. Mutual fund holders own 20.41%, while other institutional holders and individual stakeholders account for 65.31% and 14.64% respectively.
It has a market capitalization of $370.14M. The earnings-per-share (ttm) stands at -$0.81. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.41% over the week and 7.81% over the month.
Analysts forecast that FTC Solar Inc. (FTCI) will achieve an EPS of $Intra-Cellular Therapies Inc. for the current quarter, $62.64 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $FORTITUDE GOLD CORP while analysts give the company a high EPS estimate of $FTC Solar, Inc. Comparatively, EPS for the current quarter was $FTAI Aviation Ltd. a year ago. Earnings per share for the fiscal year are expected to increase by 20.70%, and 272.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate FTC Solar Inc. (FTCI) as a “Strong Buy” at a consensus score of 1.90. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Leave a Reply