FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila Purchases 16,740 Shares of Stock

FTC Solar, Inc. (NASDAQ:FTCI) Director Ahmad R. Chatila acquired 16,740 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was bought at an average price of $2.93 per share, with a total value of $49,048.20. Following the completion of the acquisition, the director now directly owns 1,984,708 shares in the company, valued at approximately $5,815,194.44. This represents a 0.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

FTC Solar Price Performance

Shares of FTC Solar stock opened at $2.95 on Friday. FTC Solar, Inc. has a 1 year low of $1.76 and a 1 year high of $7.40. The firm has a market cap of $37.92 million, a price-to-earnings ratio of -0.78 and a beta of 1.26. The company has a 50-day moving average of $3.16 and a 200 day moving average of $4.14.

Analysts Set New Price Targets

Several brokerages recently issued reports on FTCI. UBS Group reduced their price target on shares of FTC Solar from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Mkm increased their target price on FTC Solar from $0.50 to $3.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Institutional Investors Weigh In On FTC Solar

A hedge fund recently raised its stake in FTC Solar stock. Geode Capital Management LLC lifted its stake in FTC Solar, Inc. (NASDAQ:FTCI) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 766,863 shares of the company’s stock after purchasing an additional 64,325 shares during the quarter. Geode Capital Management LLC owned about 0.60% of FTC Solar worth $522,000 as of its most recent filing with the Securities & Exchange Commission. 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.