Yann Brandt Purchases 31,450 Shares of FTC Solar, Inc. (NASDAQ:FTCI) Stock

FTC Solar, Inc. (NASDAQ:FTCI) CEO Yann Brandt bought 31,450 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $3.12 per share, with a total value of $98,124.00. Following the purchase, the chief executive officer now owns 691,700 shares of the company’s stock, valued at $2,158,104. This trade represents a 4.76 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FTC Solar Price Performance

Shares of FTC Solar stock opened at $3.29 on Wednesday. The stock has a market capitalization of $42.04 million, a price-to-earnings ratio of -0.87 and a beta of 1.56. The business has a 50-day moving average of $4.56 and a 200 day moving average of $4.12. FTC Solar, Inc. has a 12 month low of $1.76 and a 12 month high of $9.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV increased its stake in FTC Solar by 527.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 99,120 shares of the company’s stock worth $35,000 after buying an additional 83,334 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of FTC Solar in the second quarter valued at $42,000. XTX Topco Ltd purchased a new position in FTC Solar in the third quarter valued at $81,000. Finally, Geode Capital Management LLC grew its stake in FTC Solar by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 766,863 shares of the company’s stock worth $522,000 after purchasing an additional 64,325 shares in the last quarter. Hedge funds and other institutional investors own 45.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of FTC Solar in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.13.

FTC Solar Company Profile

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.