Ahmad R. Chatila Purchases 100,000 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila bought 100,000 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $0.25 per share, with a total value of $25,000.00. Following the completion of the acquisition, the director now directly owns 1,503,046 shares in the company, valued at approximately $375,761.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

FTC Solar Stock Performance

Shares of FTC Solar stock opened at $0.25 on Tuesday. FTC Solar, Inc. has a one year low of $0.18 and a one year high of $2.11. The company has a market capitalization of $30.80 million, a PE ratio of -0.63 and a beta of 1.59. The company has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $0.46.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FTCI. GSA Capital Partners LLP boosted its stake in FTC Solar by 162.2% in the first quarter. GSA Capital Partners LLP now owns 1,923,411 shares of the company’s stock valued at $1,037,000 after acquiring an additional 1,189,960 shares in the last quarter. TTP Investments Inc. purchased a new stake in shares of FTC Solar during the 1st quarter valued at $80,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of FTC Solar during the 2nd quarter valued at $42,000. Mercer Global Advisors Inc. ADV boosted its position in shares of FTC Solar by 527.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after purchasing an additional 83,334 shares in the last quarter. Finally, Fifth Lane Capital LP grew its stake in FTC Solar by 200.0% during the 1st quarter. Fifth Lane Capital LP now owns 75,000 shares of the company’s stock worth $40,000 after buying an additional 50,000 shares during the last quarter. Institutional investors own 45.36% of the company’s stock.

Analyst Upgrades and Downgrades

FTCI has been the subject of several recent research reports. TD Cowen decreased their price objective on FTC Solar from $1.50 to $1.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group reduced their price target on shares of FTC Solar from $0.50 to $0.30 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $1.50 price target on shares of FTC Solar in a research report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FTC Solar currently has an average rating of “Moderate Buy” and an average target price of $1.11.

About FTC Solar

FTC Solar, Inc engages in the provision of solar tracker systems, software, and engineering services in the United States, Asia, Europe, the Middle East, North Africa, South Africa, and Australia. The company offers a self-powered, two-panel in-portrait, and single-axis tracker solution under the Voyager brand name; and a one module-in-portrait solar tracker solution under the Pioneer brand name.