After finishing at $0.47 in the prior trading day, FTC Solar Inc (NASDAQ: FTCI) closed at $0.48, up 2.35%. In other words, the price has increased by $+0.0110 from its previous closing price. On the day, 607053 shares were traded.
Ratios:
Our goal is to gain a better understanding of FTCI by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 1.80 and its Current Ratio is at 1.98. In the meantime, Its Debt-to-Equity ratio is 0.03 whereas as Long-Term Debt/Eq ratio is at 0.02.
On November 09, 2023, Northland Capital Downgraded its rating to Market Perform which previously was Outperform but kept the price unchanged to $0.65.
UBS Downgraded its Buy to Neutral on August 15, 2023, whereas the target price for the stock was revised from $4 to $2.50.
Insider Transactions:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Mar 22 ’24 when Chatila Ahmad R bought 92,600 shares for $0.55 per share. The transaction valued at 50,930 led to the insider holds 870,058 shares of the business.
Cook Patrick sold 23,000 shares of FTCI for $13,340 on Mar 21 ’24. The Chief Commercial Officer now owns 1,222,205 shares after completing the transaction at $0.58 per share. On Mar 20 ’24, another insider, Chatila Ahmad R, who serves as the Director of the company, bought 92,500 shares for $0.54 each. As a result, the insider paid 49,950 and bolstered with 777,458 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, FTCI now has a Market Capitalization of 58.25M and an Enterprise Value of 34.88M. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.47 while its Price-to-Book (P/B) ratio in mrq is 0.96. Its current Enterprise Value per Revenue stands at 0.27 whereas that against EBITDA is -0.71.
Stock Price History:
Over the past 52 weeks, FTCI has reached a high of $3.87, while it has fallen to a 52-week low of $0.28. The 50-Day Moving Average of the stock is 0.5246, while the 200-Day Moving Average is calculated to be 1.4190.
Shares Statistics:
The stock has traded on average 815.62K shares per day over the past 3-months and 1.37M shares per day over the last 10 days, according to various share statistics. A total of 125.45M shares are outstanding, with a floating share count of 55.55M. Insiders hold about 55.56% of the company’s shares, while institutions hold 26.87% stake in the company. Shares short for FTCI as of Feb 29, 2024 were 7.53M with a Short Ratio of 9.23, compared to 6.86M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 6.02% and a Short% of Float of 9.67%.
Earnings Estimates
Its stock is currently analyzed by 5 different market analysts. On average, analysts expect EPS of -$0.08 for the current quarter, with a high estimate of -$0.07 and a low estimate of -$0.09, while EPS last year was -$0.07. The consensus estimate for the next quarter is -$0.05, with high estimates of -$0.04 and low estimates of -$0.07.
Analysts are recommending an EPS of between -$0.11 and -$0.28 for the fiscal current year, implying an average EPS of -$0.16. EPS for the following year is $0.02, with 5 analysts recommending between $0.1 and -$0.16.
Revenue Estimates
5 analysts predict $13.01M in revenue for the current quarter. It ranges from a high estimate of $14.64M to a low estimate of $11.02M. As of the current estimate, FTC Solar Inc’s year-ago sales were $40.89M, an estimated decrease of -68.20% from the year-ago figure. For the next quarter, 5 analysts are estimating revenue of $23.8M, a decrease of -26.50% over than the figure of -$68.20% in the same quarter last year. There is a high estimate of $33.8M for the next quarter, whereas the lowest estimate is $12.73M.
A total of 5 analysts have provided revenue estimates for FTCI’s current fiscal year. The highest revenue estimate was $177.5M, while the lowest revenue estimate was $139.74M, resulting in an average revenue estimate of $158.93M. In the same quarter a year ago, actual revenue was $127M, up 25.10% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $296.21M in the next fiscal year. The high estimate is $352.5M and the low estimate is $230.8M. The average revenue growth estimate for next year is up 86.40% from the average revenue estimate for this year.
