24/7 Market News Snapshot 31 March, 2025 – FTC Solar, Inc. Common Stock (NASDAQ:FTCI)
DENVER, Colo., 31 March, 2025 (247marketnews.com) – (NASDAQ:FTCI) are discussed in this article.
FTC Solar, Inc. has experienced notable market momentum, opening at $2.40 and rising to $2.785, reflecting an increase of 11.4% from the previous day’s close of $2.50. This upward movement is backed by a trading volume of 637.73K, signifying robust investor interest in the stock. The recent price action indicates a bullish trend, especially as it has surpassed the $2.50 resistance level, although traders are advised to remain cautious about potential overbought conditions that could prompt a pullback.
In parallel with these market developments, FTC Solar has reported its financial results for the fourth quarter of 2024, achieving revenue of $13.2 million, which aligns with the upper end of its guidance. This represents a commendable 30.2% increase from the prior quarter, although it reflects a year-over-year decline attributable to diminished product volumes. CEO Yann Brandt expressed optimism regarding the company’s performance, highlighting significant milestones including a landmark 5-gigawatt supply agreement with Recurrent Energy, along with major projects with GPG Naturgy and Rosendin.
Additionally, FTC Solar has strengthened its leadership by appointing Kent James as U.S. Chief Commercial Officer, furthering its strategic goals. The company has also announced an upsizing of its promissory note offering by $10-$15 million, anticipated to close in the second quarter. With a growing backlog valued at approximately $502 million, FTC Solar is preparing for enhanced market engagement, projecting an anticipated revenue increase of about 44% in the first quarter of 2025 compared to the previous quarter. Brandt emphasized the company’s commitment to achieving adjusted EBITDA breakeven while positioning FTC Solar as a competitive force in the renewable energy landscape.