Cortes Isidoro Alfonso Quiroga Acquires 200,000 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Cortes Isidoro Alfonso Quiroga purchased 200,000 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average cost of $0.25 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the director now owns 2,251,740 shares in the company, valued at approximately $562,935. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cortes Isidoro Alfonso Quiroga also recently made the following trade(s):

• On Wednesday, August 14th, Cortes Isidoro Alfonso Quiroga acquired 321,337 shares of FTC Solar stock. The shares were acquired at an average cost of $0.25 per share, with a total value of $80,334.25.

FTC Solar Trading Down 3.6 %

FTCI stock opened at $0.27 on Thursday. FTC Solar, Inc. has a one year low of $0.18 and a one year high of $2.11. The firm has a 50-day moving average of $0.37 and a two-hundred day moving average of $0.45. The firm has a market capitalization of $33.68 million, a PE ratio of -0.69 and a beta of 1.59.

Wall Street Analyst Weigh In

Several research firms have commented on FTCI. UBS Group decreased their target price on shares of FTC Solar from $0.50 to $0.30 and set a “neutral” rating for the company in a research report on Friday, August 9th. HC Wainwright reaffirmed a “buy” rating and issued a $1.50 price target on shares of FTC Solar in a research note on Monday, May 13th. Finally, TD Cowen lowered their price objective on shares of FTC Solar from $1.50 to $1.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five 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 company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1.11.

Hedge Funds Weigh In On FTC Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of FTC Solar in the fourth quarter worth $35,000. Fifth Lane Capital LP lifted its stake in FTC Solar by 200.0% in the 1st quarter. Fifth Lane Capital LP now owns 75,000 shares of the company’s stock worth $40,000 after acquiring an additional 50,000 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in 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 acquiring an additional 83,334 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FTC Solar in the 2nd quarter worth about $42,000. Finally, TTP Investments Inc. acquired a new stake in FTC Solar during the 1st quarter worth about $80,000. 45.36% of the stock is currently owned by hedge funds and other institutional investors.

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.