Insider Buying: FTC Solar (NASDAQ:FTCI) Director Acquires 10,638 Shares of Stock

FTC Solar, Inc. (NASDAQ:FTCI - Get Free Report) Director Anthony Carroll purchased 10,638 shares of FTC Solar stock in a transaction dated Tuesday, December 16th. The shares were bought at an average price of $9.53 per share, with a total value of $101,380.14. Following the completion of the transaction, the director owned 24,205 shares in the company, valued at approximately $230,673.65. This trade represents a 78.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.FTC Solar Stock PerformanceFTCI opened at $9.49 on Thursday. The stock's 50 day simple moving average is $8.91 and its 200 day simple moving average is $6.81. The stock has a market cap of $141.77 million, a P/E ratio of -2.18 and a beta of 1.45. FTC Solar, Inc. has a 1-year low of $2.13 and a 1-year high of $11.45. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.66 and a quick ratio of 1.53. FTC Solar (NASDAQ:FTCI - Get Free Report) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.50) by $0.14. The business had revenue of $26.03 million during the quarter, compared to analysts' expectations of $21.12 million. FTC Solar had a negative return on equity of 549.96% and a negative net margin of 69.25%. As a group, equities analysts anticipate that FTC Solar, Inc. will post -3.98 EPS for the current fiscal year. Institutional Inflows and OutflowsA number of institutional investors have recently made changes to their positions in FTCI. Vanguard Group Inc. lifted its position in FTC Solar by 18.4% in the third quarter. Vanguard Group Inc. now owns 342,858 shares of the company's stock worth $2,417,000 after purchasing an additional 53,391 shares during the period. Jane Street Group LLC acquired a new stake in FTC Solar during the 2nd quarter valued at $79,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of FTC Solar by 81.3% in the first quarter. Goldman Sachs Group Inc. now owns 30,581 shares of the company's stock valued at $88,000 after buying an additional 13,715 shares in the last quarter. 45.36% of the stock is owned by institutional investors. Analyst Upgrades and DowngradesFTCI has been the subject of a number of research analyst reports. Zacks Research upgraded shares of FTC Solar from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 18th. Roth Capital set a $15.00 price target on FTC Solar in a report on Monday, November 17th. TD Cowen raised their price target on shares of FTC Solar from $8.00 to $12.50 and gave the stock a "buy" rating in a report on Thursday, November 13th. UBS Group reiterated a "neutral" rating and issued a $10.00 price objective (up previously from $5.50) on shares of FTC Solar in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of FTC Solar in a research report on Monday. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, FTC Solar presently has an average rating of "Hold" and an average target price of $9.20.Get Our Latest Stock Analysis on FTCIAbout FTC Solar (Get Free Report)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.Read MoreFive stocks we like better than FTC SolarHow to Use the MarketBeat Dividend CalculatorCannabis Stocks Up for Reversal: Pipedreams or Opportunity?Buy P&G Now, Before It Sets A New All-Time HighRate Cuts Make These 3 Income ETFs More Attractive Than EverDiversification Can Smooth Returns And Mitigate Portfolio RiskPost 35% Surge, Analysts Eye More Upside in Copper Giant FreeportThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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