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

FTC Solar (NASDAQ:FTCI) will announce its earnings results before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of ($0.09) per share for the quarter. FTC Solar has set its Q2 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) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. FTC Solar had a negative net margin of 47.92% and a negative return on equity of 63.07%. The company had revenue of $12.59 million during the quarter, compared to the consensus estimate of $12.54 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 Price Performance

FTCI stock traded down $0.01 during trading on Tuesday, reaching $0.38. The company had a trading volume of 254,408 shares, compared to its average volume of 672,965. FTC Solar has a 52 week low of $0.28 and a 52 week high of $3.51. The company has a market cap of $48.31 million, a P/E ratio of -1.01 and a beta of 1.59. The business has a 50 day moving average of $0.42 and a 200 day moving average of $0.48.

Insider Buying and Selling at FTC Solar

In other FTC Solar news, Director Ahmad R. Chatila bought 114,726 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $0.44 per share, with a total value of $50,479.44. Following the completion of the purchase, the director now owns 1,082,184 shares of the company’s stock, valued at $476,160.96. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 23.10% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $1.50 price target on shares of FTC Solar in a research note on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.49.

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.