KBC Group NV Purchases 284,980 Shares of FTC Solar, Inc. (NASDAQ:FTCI)

KBC Group NV raised its position in FTC Solar, Inc. (NASDAQ:FTCI - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 774,198 shares of the company's stock after buying an additional 284,980 shares during the quarter. KBC Group NV owned about 0.70% of FTC Solar worth $1,742,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FTCI. Handelsbanken Fonder AB bought a new stake in shares of FTC Solar during the 1st quarter valued at approximately $6,314,000. BlackRock Inc. grew its holdings in shares of FTC Solar by 67.7% during the 1st quarter. BlackRock Inc. now owns 2,164,042 shares of the company's stock valued at $10,670,000 after purchasing an additional 873,868 shares during the last quarter. Citadel Advisors LLC boosted its position in FTC Solar by 185.2% during the 3rd quarter. Citadel Advisors LLC now owns 882,529 shares of the company's stock worth $2,612,000 after buying an additional 573,081 shares during the period. Vanguard Group Inc. boosted its position in FTC Solar by 59.9% during the 1st quarter. Vanguard Group Inc. now owns 1,389,309 shares of the company's stock worth $6,850,000 after buying an additional 520,620 shares during the period. Finally, Rock Point Advisors LLC boosted its position in FTC Solar by 49.5% during the 4th quarter. Rock Point Advisors LLC now owns 1,223,363 shares of the company's stock worth $3,279,000 after buying an additional 405,068 shares during the period. 31.30% of the stock is owned by institutional investors.

In other news, major shareholder Arc Family Trust sold 35,000 shares of the company's stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $2.77, for a total value of $96,950.00. Following the completion of the sale, the insider now owns 14,118,357 shares in the company, valued at approximately $39,107,848.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Arc Family Trust sold 35,000 shares of the business's stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $2.77, for a total value of $96,950.00. Following the transaction, the insider now directly owns 14,118,357 shares of the company's stock, valued at approximately $39,107,848.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Springer sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $3.30, for a total transaction of $330,000.00. Following the sale, the director now directly owns 7,102,674 shares in the company, valued at $23,438,824.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,054,983 shares of company stock worth $3,328,678. 29.70% of the stock is owned by corporate insiders.

Shares of NASDAQ FTCI opened at $3.51 on Friday. The company has a market capitalization of $391.47 million, a P/E ratio of -4.27 and a beta of 1.87. FTC Solar, Inc. has a 52-week low of $1.78 and a 52-week high of $5.66. The company's 50 day moving average price is $3.04 and its 200-day moving average price is $2.82.

FTC Solar (NASDAQ:FTCI - Get Free Report) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The company had revenue of $40.89 million during the quarter, compared to analyst estimates of $38.52 million. FTC Solar had a negative net margin of 73.06% and a negative return on equity of 94.60%. Analysts forecast that FTC Solar, Inc. will post -0.3 earnings per share for the current year.

Separately, HC Wainwright began coverage on shares of FTC Solar in a research report on Thursday, April 13th. They set a "buy" rating and a $5.00 target price on the stock.

Get Our Latest Research Report on FTCI

FTC Solar, Inc provides solar tracker systems, software, and engineering services in the United States and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides Pioneer, a one module-in-portrait solar tracker solution that allows for a pile count reduction per megawatt.

Want to see what other hedge funds are holding FTCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FTC Solar, Inc. (NASDAQ:FTCI - Free Report).

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