In the latest trading session, 15,415,340 Array Technologies, Inc. (NASDAQ:ARRY) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $16.45 changed hands at -$8.5 or -0.34% at last look, the market valuation stands at $2.11 Billion. ARRY’s current price is a discount, trading about -233.01% off its 52-week high of $54.78. The share price had its 52-week low at $16.22, which suggests the last value was 1.4% up since then. When we look at Array Technologies, Inc.’s average trading volume, we note the 10-day average is 2.36 Million shares, with the 3-month average coming to 2.51 Million.
Analysts gave the Array Technologies, Inc. (ARRY) stock a consensus recommendation rating of Overweight, calculated at a mean rating of 2.2. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 6 recommended ARRY as a Hold, 5 felt it is a Buy and none rated the stock as Underweight. Array Technologies, Inc.’s EPS for the current quarter is expected to be $0.2.
Array Technologies, Inc. (NASDAQ:ARRY) trade information
Although ARRY has turned red as seen in intraday trades today. With action -34.07%, the performance over the past five days has been red. The jump to weekly highs of $26.63 on Friday, May 07 added 38.53% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.62%, with the 5-day performance at -0.34% in the red. However, in the 30-day time frame, Array Technologies, Inc. (NASDAQ:ARRY) is -0.45% down. Looking at the short shares, we see there were 7.84 Million shares sold at short interest cover period of 3.12 days.
The consensus price target for the stock as assigned by Wall Street analysts is $35.27, meaning bulls need an upside of 114.41% from its recent market value. According to analyst projections, ARRY’s forecast low is $16 with $51 as the target high. To hit the forecast high, the stock’s price needs a +210.03% upsurge from its latest level, while the stock would need to tank -2.74% for it to hit the projected low.
Array Technologies, Inc. (ARRY) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Array Technologies, Inc. earnings to increase by 38%, but the outlook for the next 5-year period is at 2.11% per year.
Array Technologies, Inc. (NASDAQ:ARRY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.75% of Array Technologies, Inc. shares while 82.91% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.95%. There are 243 institutions holding the Array Technologies, Inc. stock share, with FMR, LLC the top institutional holder. As of Dec 30, 2020, the company held 14.97% of the shares, roughly 19.02 Million ARRY shares worth $820.36 Million.
Price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 13.77% or 17.49 Million shares worth $754.47 Million as of Dec 30, 2020.
Among Mutual Funds, the top two as of Dec 30, 2020 were Price (T.Rowe) Mid Cap Growth Fund and Invesco ETF TR II-Invesco Solar ETF. With 4500000 shares estimated at $194.13 Million under it, the former controlled 3.54% of total outstanding shares. On the other hand, Invesco ETF TR II-Invesco Solar ETF held about 2.34% of the shares, roughly 2.98 Million shares worth around $88.79 Million.