With an upside potential of 136.72%, FTC Solar, Inc. (NASDAQ:FTCI) is among the 11 Most Promising Renewable Energy Stocks Right Now.
FTC Solar, Inc. (NASDAQ:FTCI) received a revised analyst target on May 6 when TD Cowen lowered the firm’s price target to $5 from $8 while maintaining a Buy rating on the shares
The firm characterized the quarter as mixed, citing revenue that came in below guidance, a return to negative gross margins, and the company’s decision to replace its chief executive officer. Despite those concerns, TD Cowen maintained its positive rating, reflecting expectations for potential operational recovery and long-term industry demand. A day earlier, FTC Solar, Inc. (NASDAQ:FTCI) reported first-quarter revenue of $17.3 million, below analyst consensus estimates of $24.26 million.
The company also disclosed that the contracted portion of its backlog stood at approximately $543 million, highlighting continued demand visibility despite near-term execution challenges and market pressures affecting utility-scale solar development activity. FTC Solar, Inc. (NASDAQ:FTCI) is a global provider of solar tracker systems, software platforms, and engineering services designed to improve the efficiency and performance of utility-scale solar installations. Founded in 2017 and headquartered in Austin, the company develops advanced solar tracking technology that helps optimize energy generation while reducing installation and operational costs for large renewable energy projects.