FTC Solar Inc’s recent filing unveils that its Chief Commercial Officer Cook Patrick unloaded Company’s shares for reported $13340.0 on Mar 21 ’24. In the deal valued at $0.58 per share,23,000 shares were sold. As a result of this transaction, Cook Patrick now holds 1,222,205 shares worth roughly $0.57 million.
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Then, Chatila Ahmad R bought 92,500 shares, generating $49,950 in total proceeds. Upon buying the shares at $0.54, the Director now owns 777,458 shares.
Before that, Cook Patrick sold 48,911 shares. FTC Solar Inc shares valued at $25,923 were divested by the Chief Commercial Officer at a price of $0.53 per share. As a result of the transaction, Cook Patrick now holds 1,245,205 shares, worth roughly $0.59 million.
ROTH MKM downgraded its FTC Solar Inc [FTCI] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Northland Capital’s analysts, who decreased its forecast for the stock in early November from “an Outperform” to “a Market perform”. UBS also remained covering FTCI and has decreased its forecast on August 15, 2023 with a “Neutral” recommendation from previously “Buy” rating. H.C. Wainwright started covering the stock on April 13, 2023. It rated FTCI as “a Buy”.
Price Performance Review of FTCI
On Friday, FTC Solar Inc [NASDAQ:FTCI] saw its stock fall -18.95% to $0.47. Over the last five days, the stock has gained 6.05%. FTC Solar Inc shares have fallen nearly -32.42% since the year began. Nevertheless, the stocks have fallen -76.94% over the past one year. While a 52-week high of $3.87 was reached on 01/02/24, a 52-week low of $0.28 was recorded on 03/14/24. SMA at 50 days reached $0.5258, while 200 days put it at $1.4302. A total of 1.98 million shares were traded, compared to the trading of 1.41 million shares in the previous session.
Levels Of Support And Resistance For FTCI Stock
The 24-hour chart illustrates a support level at 0.4055, which if violated will result in even more drops to 0.3428. On the upside, there is a resistance level at 0.5554. A further resistance level may holdings at 0.6426. The Relative Strength Index (RSI) on the 14-day chart is 44.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0364, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.41%. Stochastics %K at 69.89% indicates the stock is a holding.
How much short interest is there in FTC Solar Inc?
A steep rise in short interest was recorded in FTC Solar Inc stocks on Feb 29, 2024, growing by 0.67 million shares to a total of 7.53 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 6.86 million shares. There was a rise of 8.9%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.67% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.19.
