Array Technologies Inc (NASDAQ:ARRY) shares traded 11.59% higher at $6.74 on Wall Street last session.
ARRY stock price is now 7.21% away from the 50-day moving average and -27.21% away from the 200-day moving average. The market capitalization of the company currently stands at $1.02B.
With the price target reduced from $11.50 to $10, TD Cowen maintained Hold rating for Array Technologies Inc (NASDAQ: ARRY)., while ‘BofA Securities’ rates the stock as ‘Neutral’
In other news, Manning Neil, President & COO bought 5,700 shares of the company’s stock on Dec 16 ’24. The stock was bought for $29,697 at an average price of $5.21. Upon completion of the transaction, the President & COO now directly owns 29,366 shares in the company, valued at $0.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15 ’24, Chief Executive Officer Hostetler Kevin G. bought 14,430 shares of the business’s stock. A total of $100,038 was incurred on buying the stock at an average price of $6.93. This leaves the insider owning 216,802 shares of the company worth $1.46 million. A total of 1.69% of the company’s stock is owned by insiders.
During the past 12 months, Array Technologies Inc has had a low of $5.15 and a high of $17.75. As of last week, the company has a debt-to-equity ratio of 1.48, a current ratio of 2.41, and a quick ratio of 1.88. The fifty day moving average price for ARRY is $6.287 and a two-hundred day moving average price translates $9.2853 for the stock.
The latest earnings results from Array Technologies Inc (NASDAQ: ARRY) was released for 2024-09-30. The net profit margin was -15.15% and return on equity was -17.54% for ARRY. The company reported revenue of $231.41 million for the quarter, compared to $350.44 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -33.97 percent.
