Stocks of Array Technologies Inc (NASDAQ:ARRY) traded higher last session on Wall Street, up 7.94% to $13.32.
ARRY stock price is now -1.87% away from the 50-day moving average and -26.74% away from the 200-day moving average. The market capitalization of the company currently stands at $2.02B.
On February 28, 2024, TD Cowen reiterated its ‘Market Perform’ rating on the stock by increasing its target price from $22.50 to quote $16.50, while ‘Exane BNP Paribas’ rates the stock as ‘Underperform’
In other news, Hottinger Tyson, Chief Legal Officer sold 7,500 shares of the company’s stock on Sep 01 ’23. The stock was sold for $187,825 at an average price of $25.04. Upon completion of the transaction, the Chief Legal Officer now directly owns 69,618 shares in the company, valued at $0.93 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 14 ’23, Chief Financial Officer Patel Nipul M. sold 54,593 shares of the business’s stock. A total of $1,262,190 was realized by selling the stock at an average price of $23.12. This leaves the insider owning 82,827 shares of the company worth $1.1 million. A total of 2.13% of the company’s stock is owned by insiders.
During the past 12 months, Array Technologies Inc has had a low of $11.38 and a high of $26.64. As of last week, the company has a debt-to-equity ratio of 1.16, a current ratio of 2.48, and a quick ratio of 2.00. According to the stock market information, the enterprise value for the company is $2.85B, which is based on a 24.76 price-to-earnings ratio, a 1.66 price-to-earnings-growth ratio, and a beta of 1.63. The fifty day moving average price for ARRY is $13.54 and a two-hundred day moving average price translates $18.13 for the stock.
The latest earnings results from Array Technologies Inc (NASDAQ: ARRY) was released for Dec, 2023. According to the Solar Company, earnings per share came in at $0.21, beating analysts’ expectations of $0.11 by 0.1. This compares to -$0.03 EPS in the same period last year. The net profit margin was 5.19% and return on equity was 25.81% for ARRY. The company reported revenue of $341.62 million for the quarter, compared to $402.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.04 percent. For the current quarter, analysts expect ARRY to generate $171.44M in revenue.
