Yahoo Finance The Independent Chairman of the Board & Lead Independent Director of FTC Solar, Inc. (NASDAQ:FTCI), Thurman Rodgers, Just Bought 10.0% More Shares
Those following along with FTC Solar, Inc. (NASDAQ:FTCI) will no doubt be intrigued by the recent purchase of shares by Thurman Rodgers, Independent Chairman of the Board & Lead Independent Director of the company, who spent a stonking US$1.2m on stock at an average price of US$3.27. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 10.0%.
View our latest analysis for FTC Solar
FTC Solar Insider Transactions Over The Last Year
In fact, the recent purchase by Thurman Rodgers was the biggest purchase of FTC Solar shares made by an insider individual in the last twelve months, according to our records. We do like to see buying, but this purchase was made at well below the current price of US$4.14. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.
FTC Solar insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
FTC Solar is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of FTC Solar
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it's a good sign if insiders own a significant number of shares in the company. FTC Solar insiders own about US$173m worth of shares (which is 46% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
So What Do The FTC Solar Insider Transactions Indicate?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. Once you factor in the high insider ownership, it certainly seems like insiders are positive about FTC Solar. Looks promising! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing FTC Solar. Every company has risks, and we've spotted 3 warning signs for FTC Solar you should know about.
Of course FTC Solar may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
