The Attractiveness of Investing In FTC Solar Inc. (FTCI) is Growing


In a filing, FTC Solar Inc. revealed its 10% Owner ARC Family Trust unloaded Company’s shares for reported $64940.0 on Nov 03. In the deal valued at $1.91 per share,34,000 shares were sold. As a result of this transaction, ARC Family Trust now holds 16,789,357 shares worth roughly $ 31.23 million.

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Then, ARC Family Trust sold 50,000 shares, generating $94,500 in total proceeds. Upon selling the shares at $1.89, the 10% Owner now owns 16,823,357 shares.

Before that, ARC Family Trust sold 50,000 shares. FTC Solar Inc. shares valued at $103,000 were divested by the 10% Owner at a price of $2.06 per share. As a result of the transaction, ARC Family Trust now holds 16,873,357 shares, worth roughly $31.38 million.

Piper Sandler upgraded its FTC Solar Inc. [FTCI] rating to a Neutral from a an Underweight in a research note published on Monday, July 19, 2022; the price target was increased to $3.50 from $2. PT values the company’s stock at a premium of 46.86 to its Monday closing price. A number of analysts have revised their coverage, including ROTH Capital’s analysts, who increased its forecast for the stock in early June from “a Neutral” to “a Buy”. Northland Capital began covering FTCI with “an Outperform” recommendation on May 23, 2022. Piper Sandler revised its rating on April 21, 2022. It rated FTCI as “an Underweight” which previously was an “a Neutral”.

Price Performance Review of FTCI

On Monday, FTC Solar Inc. [NASDAQ:FTCI] saw its stock fall -2.11% to $1.86. On the same session, the stock had its day’s lowest price of $1.785, but rose to a high of $1.93. Over the last five days, the stock has lost -10.14%. FTC Solar Inc. shares have fallen nearly -75.40% since the year began. Nevertheless, the stocks have fallen -81.73% over the past one year. While a 52-week high of $11.20 was reached on 01/04/22, a 52-week low of $1.80 was recorded on 11/07/22. SMA at 50 days reached $3.0358, while 200 days put it at $4.0026. A total of 1.22 million shares were traded, compared to the trading of 1.04 million shares in the previous session.

Levels Of Support And Resistance For FTCI Stock

The 24-hour chart illustrates a support level at 1.7867, which if violated will result in even more drops to 1.7133. On the upside, there is a resistance level at 1.9317. A further resistance level may holdings at 2.0033. The Relative Strength Index (RSI) on the 14-day chart is 28.05, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.1064, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.87%. Stochastics %K at 14.90% indicates the stock is a buying.

How much short interest is there in FTC Solar Inc.?

A steep rise in short interest was recorded in FTC Solar Inc. stocks on Jul 14, 2022, growing by 0.85 million shares to a total of 4.36 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.51 million shares. There was a rise of 19.5%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.05% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.42.

FTC Solar Inc. [FTCI] – Who Are The Largest Shareholders?

In filings from Hill City Capital LP, it is revealed that the company now owns 3,750,000 shares, or roughly 3.69% of the outstanding FTCI shares. In other words, the investor’s shares have risen by 1,700,000 from its previous 13-F filing of 2050000.0. Additionally, Invesco Capital Management LLC decreased -6.86% of its stake after which the total value it holdings stand at $9,834,488, while BlackRock Fund Advisors added 38.99% of its stake to hold $8.16 million in the firm. Over the last quarter, Cinctive Capital Management LP purchased 14,695 shares of FTC Solar Inc., while The Vanguard Group, Inc. bought 348,350 shares. At present, Arosa Capital Management LP is holding 900,000 shares valued at $2.66 million. Rock Point Advisors LLC owned 869,910 shares of the company at the time of its most recent 13F filing, worth $2.57 million.

However, 8 analysts have rated FTCI stock as an Overweight in their predictions for 2022.


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