Why FTC Solar Is Trading Higher Today

FTC Solar Inc (NASDAQ: 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.