After Cowen & Co. and Merrill Lynch gave FTC Solar (NASDAQ: FTCI) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Pavel Molchanov reiterated a Buy rating on FTC Solar today and set a price target of $13.00. The company’s shares closed last Tuesday at $11.13.
According to TipRanks.com, Molchanov is a 5-star analyst with an average return of 14.9% and a 59.4% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Maxeon Solar Technologies, Nextera Energy Partners, and Clean Energy Fuels.
FTC Solar has an analyst consensus of Strong Buy, with a price target consensus of $14.29, a 34.2% upside from current levels. In a report issued on May 24, Cowen & Co. also initiated coverage with a Buy rating on the stock with a $13.00 price target.
Based on the recent corporate insider activity of 17 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FTCI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
FTC Solar Inc is a global provider of advanced solar tracker systems, supported by proprietary software and value-added engineering services. It focuses on providing differentiated products, software and services that maximize energy generation and cost savings for customers, and to help facilitate the continued growth and adoption of solar power globally.