In the latest trading session, 0.61 million 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 $15.77 changed hands at -$0.44 or -2.74% at last look, the market valuation stands at $2.06B. ARRY’s current price is a discount, trading about -247.37% off its 52-week high of $54.78. The share price had its 52-week low at $13.22, which suggests the last value was 16.17% up since then. When we look at Array Technologies Inc.’s average trading volume, we note the 10-day average is 3.28 million shares, with the 3-month average coming to 4.34 million.
Analysts gave the Array Technologies Inc. (ARRY) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 1 out of 12 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended ARRY as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Array Technologies Inc.’s EPS for the current quarter is expected to be $0.03.
Array Technologies Inc. (NASDAQ:ARRY) trade information
Instantly ARRY was in red as seen in intraday trades today. With action 0.37%, the performance over the past five days has been green. The drop to weekly highs of 16.59 on Friday, 06/18/21 subtracted -2.74% to the stock’s daily price. The company’s shares are showing year-to-date downside of -62.42%, with the 5-day performance at 0.37% in the green. However, in the 30-day time frame, Array Technologies Inc. (NASDAQ:ARRY) is 11.26% up. Looking at the short shares, we see there were 3.58 million shares sold at short interest cover period of 0.58 days.
The consensus price target for the stock as assigned by Wall Street analysts is $28.82, meaning bulls need an upside of 45.28% from its recent market value. According to analyst projections, ARRY’s forecast low is $15.00 with $51.00 as the target high. To hit the forecast high, the stock’s price needs a -223.4% plunge from its current level, while the stock would need to tank 4.88% for it to hit the projected low.
Array Technologies Inc. (ARRY) estimates and forecasts
Data shows that the Array Technologies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -59.97% over the past 6 months, a -56.99% in annual growth rate that is considerably lower than the industry average of 10.40%. Year-over-year growth is forecast to reach 13.60% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $233.24 million. 10 analysts are of the opinion that Array Technologies Inc.’s revenue for the quarter ending Sep 2021 will be $261.07 million. The estimates for the next quarter sales put growth at 87.20%.
The 2021 estimates are for Array Technologies Inc. earnings to increase by 38.00%, but the outlook for the next 5-year period is at 3.00% per year.
Array Technologies Inc. (NASDAQ:ARRY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.84% of Array Technologies Inc. shares while 104.68% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.57%. There are 104.68% institutions holding the Array Technologies Inc. stock share, with FMR, LLC the top institutional holder. As of Mar 30, 2021, the company held 15.00% of the shares, roughly 19.05 million ARRY shares worth $568.04 million.
Price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 14.92% or 18.95 million shares worth $565.0 million as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Price (T.Rowe) Mid Cap Growth Fund and Vanguard Total Stock Market Index Fund. With 4.75 million shares estimated at $141.65 million under it, the former controlled 3.74% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.54% of the shares, roughly 3.23 million shares worth around $96.33 million.