FTC Solar (FTCI) Set to Announce Quarterly Earnings on Tuesday

FTC Solar (NASDAQ:FTCI - Get Free Report) will be posting its quarterly earnings results before the market opens on Tuesday, November 12th. Analysts expect FTC Solar to post earnings of ($0.09) per share for the quarter. FTC Solar has set its Q3 2024 guidance at EPS.Investors that wish to register for the company's conference call can do so using this link.

FTC Solar (NASDAQ:FTCI - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.01. FTC Solar had a negative net margin of 63.17% and a negative return on equity of 75.67%. The business had revenue of $11.43 million during the quarter, compared to the consensus estimate of $13.09 million. On average, analysts expect FTC Solar to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

FTC Solar Stock Down 7.9 %

Shares of NASDAQ FTCI traded down $0.05 on Wednesday, reaching $0.53. 2,023,564 shares of the company's stock traded hands, compared to its average volume of 2,570,526. FTC Solar has a 12 month low of $0.18 and a 12 month high of $1.22. The business's 50 day simple moving average is $0.48 and its two-hundred day simple moving average is $0.43. The company has a market cap of $68.25 million, a price-to-earnings ratio of -1.33 and a beta of 1.79.

Insiders Place Their Bets

In related news, Director Ahmad R. Chatila bought 238,000 shares of the business's stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $0.21 per share, with a total value of $49,980.00. Following the transaction, the director now owns 1,951,046 shares in the company, valued at approximately $409,719.66. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other FTC Solar news, Director Cortes Isidoro Alfonso Quiroga purchased 321,337 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $0.25 per share, for a total transaction of $80,334.25. Following the purchase, the director now directly owns 1,941,740 shares of the company's stock, valued at $485,435. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ahmad R. Chatila purchased 238,000 shares of the company's stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $0.21 per share, for a total transaction of $49,980.00. Following the purchase, the director now directly owns 1,951,046 shares in the company, valued at approximately $409,719.66. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 1,282,137 shares of company stock valued at $304,558. Company insiders own 22.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FTCI shares. TD Cowen decreased their target price on shares of FTC Solar from $1.50 to $1.00 and set a "buy" rating for the company in a research note on Friday, August 9th. UBS Group reduced their price target on shares of FTC Solar from $0.50 to $0.30 and set a "neutral" rating for the company in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1.04.

FTC Solar Company Profile

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.