FTC Solar (NASDAQ:FTCI) Given New $3.00 Price Target at Roth Mkm

FTC Solar (NASDAQ:FTCI) had its price objective upped by equities researchers at Roth Mkm from $0.50 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s target price points to a potential upside of 3.45% from the company’s current price.

FTC Solar Stock Performance

NASDAQ:FTCI traded up $0.03 during mid-day trading on Tuesday, reaching $2.90. The stock had a trading volume of 106,908 shares, compared to its average volume of 256,357. The stock has a market capitalization of $37.28 million, a P/E ratio of -0.75 and a beta of 1.26. FTC Solar has a one year low of $1.76 and a one year high of $7.40. The firm has a 50 day moving average price of $3.23 and a two-hundred day moving average price of $4.16.

Institutional Inflows and Outflows

An institutional investor recently raised its position in FTC Solar stock. Geode Capital Management LLC increased its stake in FTC Solar, Inc. (NASDAQ:FTCI) by 9.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 766,863 shares of the company’s stock after buying an additional 64,325 shares during the period. Geode Capital Management LLC owned 0.60% of FTC Solar worth $522,000 at the end of the most recent reporting period. 45.36% of the stock is owned by institutional investors and hedge funds.

About FTC Solar

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.