The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. FTC Solar Inc shares valued at $49,980 were purchased by Chatila Ahmad R on Sep 06 ’24. At $0.21 per share, Chatila Ahmad R acquired 238,000 shares. The insider’s holdings grew to 1,951,046 shares worth approximately $0.64 million following the completion of this transaction.
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Also, Chatila Ahmad R purchased 110,000 shares, netting a total of over 25,300 in proceeds. Following the buying of shares at $0.23 each, the insider now holds 1,713,046 shares.
Before that, Chatila Ahmad R had added 100,000 shares to its account. In a trade valued at $25,000, the Director bought FTC Solar Inc shares for $0.25 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $0.53 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 drop of approximately -18.17%. Over the course of the year, FTC Solar Inc shares have dropped approximately -52.76%. Shares of the company reached a 52-week high of $0.7500 on 01/02/24 and a 52-week low of $0.1758 on 08/08/24. A 50-day SMA is recorded $0.5164, while a 200-day SMA reached $0.4514. Nevertheless, trading volume fell to 3.15 million shares from 2.99 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 0.3030, which, if violated, would cause prices to drop to 0.2788. In the upper region, resistance lies at 0.3607. The next price resistance is at 0.3942. RSI (Relative Strength Index) is 29.18 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0625, which suggests the price will decrease in the coming days. Percent R is at 93.07%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
