FTC Solar (NASDAQ:FTCI) Announces Quarterly Earnings Results

FTC Solar (NASDAQ:FTCI) announced its quarterly earnings results on Monday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03), Yahoo Finance reports.

FTCI traded down $0.17 on Wednesday, hitting $10.96. The company had a trading volume of 2,871 shares, compared to its average volume of 909,110. FTC Solar has a 52-week low of $7.79 and a 52-week high of $15.46.

A number of brokerages have commented on FTCI. Raymond James started coverage on FTC Solar in a report on Monday, May 24th. They set a “strong-buy” rating and a $13.00 price objective for the company. Cowen started coverage on FTC Solar in a report on Monday, May 24th. They set an “outperform” rating and a $13.00 price target on the stock. Barclays began coverage on shares of FTC Solar in a research report on Monday, May 24th. They set an “equal weight” rating and a $11.00 price target for the company. Bank of America assumed coverage on shares of FTC Solar in a research note on Monday, May 24th. They set a “buy” rating and a $12.00 price target for the company. Finally, UBS Group assumed coverage on FTC Solar in a research report on Monday, May 24th. They set a “buy” rating and a $13.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $14.29.

About FTC Solar

FTC Solar, Inc provides solar tracker systems, and software and engineering services in the United States and internationally. The company markets its two-panel in-portrait single-axis tracker systems under the Voyager brand name. Its software solutions include SunPath, a solution to enhance energy production; SunDAT, an online 3D solar PV design solution; and Atlas, a solar portfolio management solution.

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