During the last session, Array Technologies Inc (NASDAQ:ARRY)’s traded shares were 2.75 million, with the beta value of the company hitting 1.66. At the end of the trading day, the stock’s price was $10.52, reflecting an intraday loss of -1.68% or -$0.18. The 52-week high for the ARRY share is $26.64, that puts it down -153.23 from that peak though still a striking 11.22% gain since the share price plummeted to a 52-week low of $9.34. The company’s market capitalization is $1.60B, and the average intraday trading volume over the past 10 days was 5.53 million shares, and the average trade volume was 5.69 million shares over the past three months.
Array Technologies Inc (ARRY) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.82. ARRY has a Sell rating from 0 analyst(s) out of 14 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.11.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Array Technologies Inc (ARRY) registered a -1.68% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.68% in intraday trading to $10.52, hitting a weekly high. The stock’s 5-day price performance is -10.54%, and it has moved by -17.94% in 30 days. Based on these gigs, the overall price performance for the year is -46.05%. The short interest in Array Technologies Inc (NASDAQ:ARRY) is 24.91 million shares and it means that shorts have 5.4 day(s) to cover.
The extremes of the forecast give a target low and a target high price of $14 and $30 respectively. As a result, ARRY is trading at a discount of -185.17% off the target high and -33.08% off the low.
Array Technologies Inc (ARRY) estimates and forecasts
Statistics show that Array Technologies Inc has outperformed its competitors in share price, compared to the industry in which it operates. Array Technologies Inc (ARRY) shares have gone down -22.25% during the last six months, with a year-to-date growth rate more than the industry average at -4.42% against -5.60. In the rating firms’ projections, revenue will decrease -17.30% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 231.61M as predicted by 22 analyst(s). Meanwhile, a consensus of 22 analyst(s) estimates revenue growth to 420.36M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 507.73M and 374.57M respectively. In this case, analysts expect current quarter sales to shrink by -54.40% and then jump by 12.20% in the coming quarter.
While earnings are projected to return -4.56% in 2024, the next five years will return 9.30% per annum.
ARRY Dividends
Array Technologies Inc is due to release its next quarterly earnings in August. 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 0.34% of total outstanding shares while institutional holders control 132.78% , with the float percentage being 133.24% . BLACKROCK INC. is the largest shareholder of the company, while 421 institutions own stock in it. As of 2024-03-31, the company held over 16.2 million shares (or 10.7133% of all shares), a total value of $241.48 million in shares.
The next largest institutional holding, with 14.0 million shares, is of VANGUARD GROUP INC’s that is approximately 9.2598% of outstanding shares. At the market price on 2024-03-31, these shares were valued at $208.72 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 Mar 31, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 4.53 shares. This amounts to just over 2.98 percent of the company’s overall shares, with a $47.66 million market value. The same data shows that the other fund manager holds slightly less at 3.67, or about 2.42% of the stock, which is worth about $38.58 million.
