Array Technologies Inc. (NASDAQ:ARRY) shares traded -2.49% lower at $23.08 on Wall Street last session.
In accordance with the data, 20 analysts cover Array Technologies Inc. (NASDAQ:ARRY). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $35.00 and a low of $17.00, we find $28.00. Given the previous closing price of $23.67, this indicates a potential upside of 18.29 percent. ARRY stock price is now 12.87% away from the 50-day moving average and 15.37% away from the 200-day moving average. The market capitalization of the company currently stands at $3.46B.
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It has been rated a hold by 3 analysts and a buy by 15. Brokers who have rated the stock have averaged $27.45 as their price target over the next twelve months.
In other news, Hottinger Tyson, Chief Legal Officer sold 8,500 shares of the company’s stock on Nov 16. The stock was sold for $176,292 at an average price of $20.74. Upon completion of the transaction, the Chief Legal Officer now directly owns 75,547 shares in the company, valued at $1.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 19, Chief Operations Officer Stacherski Kenneth R. sold 1,327 shares of the business’s stock. A total of $24,409 was realized by selling the stock at an average price of $18.39. This leaves the insider owning 99,902 shares of the company worth $2.31 million. Insiders disposed of 60,701 shares of company stock worth roughly $1.4 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARRY stock. A new stake in Array Technologies Inc. shares was purchased by SAMLYN CAPITAL, LLC during the first quarter worth $46,115,000. AGF MANAGEMENT LTD invested $17,517,000 in shares of ARRY during the first quarter. In the first quarter, AMUNDI acquired a new stake in Array Technologies Inc. valued at approximately $13,426,000. ALPINE INVESTMENT MANAGEMENT LTD acquired a new stake in ARRY for approximately $10,386,000. CINCTIVE CAPITAL MANAGEMENT LP purchased a new stake in ARRY valued at around $7,399,000 in the second quarter. In total, there are 398 active investors with 113.93% ownership of the company’s stock.
During the past 12 months, Array Technologies Inc. has had a low of $9.02 and a high of $24.99. As of last week, the company has a debt-to-equity ratio of 3.62, a current ratio of 1.80, and a quick ratio of 1.30. The fifty day moving average price for ARRY is $20.54 and a two-hundred day moving average price translates $20.03 for the stock.
The latest earnings results from Array Technologies Inc. (NASDAQ: ARRY) was released for Mar, 2023. According to the Solar Company, earnings per share came in at $0.25, beating analysts’ expectations of $0.03 by 0.22. This compares to -$0.17 EPS in the same period last year. The company reported revenue of $376.77 million for the quarter, compared to $300.59 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.35 percent. For the current quarter, analysts expect ARRY to generate $452.35M in revenue.
