FTC Solar price target lowered to $1.50 from $2.50 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on FTC Solar to $1.50 from $2.50 and keeps a Buy rating on the shares. Though the company’s financial performance is expected to remain pressured, its balance sheet and working capital position are currently adequate to satisfy near-term execution needs, the analyst tells investors in a research note. The firm believes important catalysts for the stock would include filling the vacant CEO position and demonstrating margin improvements as revenues pick up.