During the last session, Array Technologies Inc (NASDAQ:ARRY)’s traded shares were 4.36 million, with the beta value of the company hitting 1.64. At the end of the trading day, the stock’s price was $11.91, reflecting an intraday loss of -0.58% or -$0.07. The 52-week high for the ARRY share is $26.64, that puts it down -123.68 from that peak though still a striking 0.08% gain since the share price plummeted to a 52-week low of $11.90. The company’s market capitalization is $1.80B, and the average intraday trading volume over the past 10 days was 5.23 million shares, and the average trade volume was 6.02 million shares over the past three months.

Array Technologies Inc (NASDAQ:ARRY) trade information

Array Technologies Inc (ARRY) registered a -0.58% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.58% in intraday trading to $11.91, hitting a weekly high. The stock’s 5-day price performance is -9.91%, and it has moved by -17.35% in 30 days. Based on these gigs, the overall price performance for the year is -39.45%. The short interest in Array Technologies Inc (NASDAQ:ARRY) is 25.94 million shares and it means that shorts have 4.06 day(s) to cover.

Array Technologies Inc (ARRY) estimates and forecasts

Statistics show that Array Technologies Inc has underperformed its competitors in share price, compared to the industry in which it operates. Array Technologies Inc (ARRY) shares have gone down -51.98% during the last six months, with a year-to-date growth rate less than the industry average at -1.77% against 17.10. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -112.00% this quarter and then drop -63.80% in the quarter after that. In the rating firms’ projections, revenue will decrease -12.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $177.27 million as predicted by 21 analyst(s). Meanwhile, a consensus of 21 analyst(s) estimates revenue growth to $294.32 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $376.77 million and $507.73 million respectively. In this case, analysts expect current quarter sales to shrink by -53.00% and then drop by -42.00% in the coming quarter.

While earnings are projected to return -7.11% in 2024, the next five years will return 14.90% per annum.

ARRY Dividends

Array Technologies Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Array Technologies Inc (NASDAQ:ARRY)’s Major holders

Array Technologies Inc insiders own 0.88% of total outstanding shares while institutional holders control 125.12%, with the float percentage being 126.23%. Blackrock Inc. is the largest shareholder of the company, while 433 institutions own stock in it. As of Jun 29, 2023, the company held over 17.97 million shares (or 11.89% of all shares), a total value of $406.06 million in shares.

The next largest institutional holding, with 13.77 million shares, is of Vanguard Group Inc’s that is approximately 9.11% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $311.09 million.

Also, the Mutual Funds coming in first place with the largest holdings of Array Technologies Inc (ARRY) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 4.45 million shares. This amounts to just over 2.95 percent of the company’s overall shares, with a $100.63 million market value. The same data shows that the other fund manager holds slightly less at 3.7 million, or about 2.45% of the stock, which is worth about $83.62 million.