FTC Solar (NASDAQ:FTCI) Stock Price Expected to Rise, Roth Mkm Analyst Says

FTC Solar (NASDAQ:FTCI) had its price target upped by stock analysts at Roth Mkm from $0.50 to $3.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target would suggest a potential upside of 3.45% from the stock’s previous close.

FTC Solar Stock Performance

Shares of FTC Solar stock traded up $0.03 during midday trading on Tuesday, hitting $2.90. The company had a trading volume of 106,908 shares, compared to its average volume of 256,357. FTC Solar has a 52-week low of $1.76 and a 52-week high of $7.40. The stock has a market capitalization of $37.28 million, a P/E ratio of -0.75 and a beta of 1.26. The company has a 50 day moving average of $3.23 and a 200 day moving average of $4.16.

Hedge Funds Weigh In On FTC Solar

An institutional investor recently bought a new position in FTC Solar stock. XTX Topco Ltd purchased a new position in FTC Solar, Inc. (NASDAQ:FTCI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 118,830 shares of the company’s stock, valued at approximately $81,000. XTX Topco Ltd owned about 0.09% of FTC Solar at the end of the most recent reporting period. 45.36% of the stock is owned by institutional investors and hedge funds.

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.