Timing, Fundamentals, and Diversification of FTC Solar Inc. (FTCI)

The closing price of FTC Solar Inc. (NASDAQ: FTCI) was $2.42 for the day, down -0.41% from the previous closing price of $2.43. In other words, the price has decreased by -$0.0100 from its previous closing price. On the day, 1948121 shares were traded. FTCI stock price reached its highest trading level at $2.7950 during the session, while it also had its lowest trading level at $2.4200.

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Our analysis of FTCI’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 1.70 and its Current Ratio is at 2.00. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, BofA Securities on March 15, 2023, Upgraded its rating to Buy and sets its target price to $3.50 from $2 previously.

On July 19, 2022, Piper Sandler Upgraded its rating to Neutral which previously was Underweight and also upped its target price recommendation from $2 to $3.50.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Mar 13 when Aminpour Sasan sold 82,972 shares for $2.65 per share. The transaction valued at 219,876 led to the insider holds 813,798 shares of the business.

Aminpour Sasan sold 6,428 shares of FTCI for $19,027 on Mar 09. The Chief Operating Officer now owns 896,770 shares after completing the transaction at $2.96 per share. On Mar 08, another insider, Nolde Kristian, who serves as the VP, MARKETING AND STRATEGY of the company, sold 34,000 shares for $2.92 each. As a result, the insider received 99,280 and left with 346,432 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.24 while its Price-to-Book (P/B) ratio in mrq is 3.78.

Stock Price History:

Over the past 52 weeks, FTCI has reached a high of $6.82, while it has fallen to a 52-week low of $1.78. The 50-Day Moving Average of the stock is 2.7919, while the 200-Day Moving Average is calculated to be 3.2997.

Shares Statistics:

FTCI traded an average of 1.14M shares per day over the past three months and 1.59M shares per day over the past ten days. A total of 103.71M shares are outstanding, with a floating share count of 43.98M. Insiders hold about 11.10% of the company’s shares, while institutions hold 29.80% stake in the company. Shares short for FTCI as of Jan 30, 2023 were 6.24M with a Short Ratio of 5.21M, compared to 6.13M on Dec 29, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.05% and a Short% of Float of 9.69%.

Earnings Estimates

The firm’s stock currently is rated by 8 analysts. On average, analysts expect EPS of -$0.11 for the current quarter, with a high estimate of -$0.08 and a low estimate of -$0.13, while EPS last year was -$0.17. The consensus estimate for the next quarter is -$0.06, with high estimates of $0.08 and low estimates of -$0.14.

Analysts are recommending an EPS of between -$0.63 and -$0.69 for the fiscal current year, implying an average EPS of -$0.67. EPS for the following year is -$0.07, with 7 analysts recommending between $0.42 and -$0.26.

Revenue Estimates

It is expected that $90B in revenue will be generated in the current quarter, according to 8 analysts. It ranges from a high estimate of $69.63M to a low estimate of $23.38M. As of the current estimate, FTC Solar Inc.’s year-ago sales were $101.72M, an estimated decrease of -70.10% from the year-ago figure. For the next quarter, 7 analysts are estimating revenue of $40.94M, a decrease of -17.40% over than the figure of -$70.10% in the same quarter last year. There is a high estimate of $50M for the next quarter, whereas the lowest estimate is $28.17M.

A total of 7 analysts have provided revenue estimates for FTCI’s current fiscal year. The highest revenue estimate was $122.3M, while the lowest revenue estimate was $120.22M, resulting in an average revenue estimate of $121.6M. In the same quarter a year ago, actual revenue was $270.52M, down -55.10% from the average estimate. Based on 7 analysts’ estimates, the company’s revenue will be $344.91M in the next fiscal year. The high estimate is $459.51M and the low estimate is $199.23M. The average revenue growth estimate for next year is up 183.60% from the average revenue estimate for this year.