Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. FTC Solar Inc shares valued at $49,674 were purchased by Chatila Ahmad R on Mar 26 ’24. At $0.51 per share, Chatila Ahmad R acquired 97,400 shares. The insider’s holdings grew to 967,458 shares worth approximately $0.57 million following the completion of this transaction.
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Also, Chatila Ahmad R purchased 92,600 shares, netting a total of over 50,930 in proceeds. Following the buying of shares at $0.55 each, the insider now holds 870,058 shares.
Before that, Cook Patrick had sold 23,000 shares from its account. In a trade valued at $13,340, the Chief Commercial Officer traded FTC Solar Inc shares for $0.58 each. Upon closing the transaction, the insider’s holdings decreased to 23,000 shares, worth approximately $0.72 million.
As published in a research note from ROTH MKM on March 14, 2024, FTC Solar Inc [FTCI] has been rated down from a Buy to a Neutral. Analysts at Northland Capital downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in early November. As of August 15, 2023, UBS has decreased its “Buy” rating to a “Neutral” for FTCI. Earlier on April 13, 2023, H.C. Wainwright initiated its rating. Their recommendation was “a Buy” for FTCI stock.
Analyzing FTCI Stock Performance
During the last five days, there has been a surge of approximately 7.65%. Over the course of the year, FTC Solar Inc shares have dropped approximately -15.08%. Shares of the company reached a 52-week high of $0.7500 on 01/02/24 and a 52-week low of $0.3900 on 03/14/24. A 50-day SMA is recorded $0.5251, while a 200-day SMA reached $1.3972. Nevertheless, trading volume fell to 1.14 million shares from 0.62 million shares the previous day.
Support And Resistance Levels for FTC Solar Inc (FTCI)
According to the 24-hour chart, there is a support level at 0.5241, which, if violated, would cause prices to drop to 0.4598. In the upper region, resistance lies at 0.6301. The next price resistance is at 0.6718. RSI (Relative Strength Index) is 57.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0279, which suggests the price will decrease in the coming days. Percent R is at 12.30%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is FTC Solar Inc subject to short interest?
Stocks of FTC Solar Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.67 million shares to 7.53 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 6.86 million shares. A jump of 8.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 11.19 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.19.
