Why FTC Solar Is Trading Higher Today

FTC Solar Inc FTCI is trading higher following multiple analyst initiations and price targets well above the current price per share. 

What Happened: Numerous analysts initiated coverage on FTC Solar on Monday, setting price targets between $11 and $23.

  • Cowen & Co analyst Jeffrey Osborne initiated coverage on FTC Solar with an Outperform rating and announced a price target of $13.
  • Barclays analyst Moses Sutton initiated coverage on FTC Solar with an Equal-Weight rating and announced a price target of $11.
  • Credit Suisse analyst Michael Weinstein initiated coverage on FTC Solar with an Outperform rating and announced a price target of $23.
  • BofA Securities analyst Julien Dumoulin Smith initiated coverage on FTC Solar with a Buy rating and announced a price target of $12.
  • Raymond James analyst Pavel Molchanov initiated coverage on FTC Solar with a Strong Buy rating and announced a price target of $13.
  • UBS analyst Jon Windham initiated coverage on FTC Solar with a Buy rating and announced a price target of $13.
  • Roth Capital analyst Philip Shen initiated coverage on FTC Solar with a Buy rating and announced a price target of $15.

FTC Solar announced it will report first-quarter earnings results before the market opens on June 8.

Related Link: FTC Solar Raises $258M From IPO Priced At $13 Per Share

Price Action: FTC Solar traded as high as $15.46 and as low as $7.79 since its IPO on April 28. 

At last check Monday, the stock was up 8.12% at $9.32.

Photo by ricketyus from Flickr.

Posted In: Jeffrey OsborneJon WindhamJulien DumoulinMichael WeinsteinMoses SuttonPavel MolchanovPhilip Shenwhy it's movingPrice TargetInitiationAnalyst RatingsMoversTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.