FTC Solar, Inc. (NASDAQ:FTCI) Major Shareholder Arc Family Trust Sells 60,000 Shares

FTC Solar, Inc. (NASDAQ:FTCIGet Rating) major shareholder Arc Family Trust sold 60,000 shares of FTC Solar stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $2.15, for a total transaction of $129,000.00. Following the completion of the sale, the insider now owns 16,361,357 shares of the company’s stock, valued at approximately $35,176,917.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Arc Family Trust also recently made the following trade(s):

  • On Monday, November 14th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $2.32, for a total transaction of $116,000.00.
  • On Monday, November 7th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The stock was sold at an average price of $1.85, for a total transaction of $92,500.00.
  • On Wednesday, November 2nd, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $1.89, for a total transaction of $94,500.00.
  • On Monday, October 31st, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.05, for a total transaction of $102,500.00.
  • On Wednesday, October 26th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.09, for a total transaction of $104,500.00.
  • On Monday, October 24th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $1.90, for a total transaction of $95,000.00.
  • On Wednesday, October 19th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.14, for a total transaction of $107,000.00.
  • On Monday, October 17th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.39, for a total transaction of $119,500.00.
  • On Wednesday, October 12th, Arc Family Trust sold 67,000 shares of FTC Solar stock. The shares were sold at an average price of $2.71, for a total transaction of $181,570.00.
  • On Monday, October 10th, Arc Family Trust sold 50,000 shares of FTC Solar stock. The shares were sold at an average price of $2.72, for a total transaction of $136,000.00.

FTC Solar Stock Up 9.1 %

FTCI traded up $0.19 during trading on Thursday, hitting $2.28. 1,311,831 shares of the company’s stock were exchanged, compared to its average volume of 1,268,169. FTC Solar, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $9.05. The stock has a market cap of $235.50 million, a P/E ratio of -2.19 and a beta of 2.44. The business’s 50 day moving average is $2.58 and its two-hundred day moving average is $3.68.

FTC Solar (NASDAQ:FTCIGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The company had revenue of $16.57 million during the quarter, compared to the consensus estimate of $17.28 million. FTC Solar had a negative return on equity of 81.67% and a negative net margin of 51.87%. On average, sell-side analysts forecast that FTC Solar, Inc. will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On FTC Solar

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in FTC Solar in the first quarter valued at approximately $26,000. Cambridge Investment Research Advisors Inc. bought a new stake in FTC Solar during the 1st quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in FTC Solar during the 2nd quarter valued at $42,000. Petrus Trust Company LTA bought a new stake in FTC Solar during the 3rd quarter valued at $34,000. Finally, Jane Street Group LLC bought a new stake in FTC Solar during the 1st quarter valued at $68,000. Hedge funds and other institutional investors own 25.09% of the company’s stock.

Wall Street Analyst Weigh In

FTCI has been the topic of several research reports. Credit Suisse Group decreased their price target on shares of FTC Solar to $6.00 in a report on Wednesday, November 16th. Northland Securities decreased their price target on shares of FTC Solar to $4.00 in a report on Tuesday, November 15th. Raymond James decreased their price target on shares of FTC Solar from $6.00 to $5.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 10th. Finally, Piper Sandler decreased their price target on shares of FTC Solar to $2.50 in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.95.

FTC Solar Company Profile

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FTC Solar, Inc provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites.

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Insider Buying and Selling by Quarter for FTC Solar (NASDAQ:FTCI)

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