Array Technologies Inc (NASDAQ:ARRY) has a beta value of 1.66 and has seen 1.42 million shares traded in the recent trading session. The company, currently valued at $1.64B, closed the recent trade at $10.84 per share which meant it lost -$0.11 on the day or -1.05% during that session. The ARRY stock price is -145.76% off its 52-week high price of $26.64 and 13.84% above the 52-week low of $9.34. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.35 million shares traded. The 3-month trading volume is 5.53 million shares.
The consensus among analysts is that Array Technologies Inc (ARRY) is Buy stock at the moment, with a recommendation rating of 1.82. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 14 have rated it as a Hold, with 11 advising it as a Buy. 0 have rated the stock as Underweight.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Sporting -1.05% in the red today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the ARRY stock price touched $10.84 or saw a rise of 5.74%. Year-to-date, Array Technologies Inc shares have moved -35.51%, while the 5-day performance has seen it change -3.26%. Over the past 30 days, the shares of Array Technologies Inc (NASDAQ:ARRY) have changed -1.14%. Short interest in the company has seen 24.91 million shares shorted with days to cover at 5.4.
Wall Street analysts have a consensus price target for the stock at $18, which means that the shares’ value could jump 39.78% from the levels at last check today. The projected low price target is $14 while the price target rests at a high of $30. In that case, then, we find that the latest price level in today’s session is -176.75% off the targeted high while a plunge would see the stock gain -29.15% from the levels at last check today.
Array Technologies Inc (ARRY) estimates and forecasts
Figures show that Array Technologies Inc shares have outperformed across the wider relevant industry. The company’s shares have lost -19.20% over the past 6 months, with this year growth rate of -4.42%, compared to -4.90% for the industry.
Earnings growth for 2024 is a modest -4.40% while over the next 5 years, the company’s earnings are expected to increase by 9.30%.
ARRY Dividends
Array Technologies Inc is expected to release its next earnings report in August this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Insiders own 0.34% of the company shares, while shares held by institutions stand at 132.78% with a share float percentage of 133.23%. Investors are also buoyed by the number of investors in a company, with Array Technologies Inc having a total of 421.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 16.2 million shares worth more than $241.48 million. As of 2024-03-31, BLACKROCK INC. held 10.7133% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 14.0 million shares as of 2024-03-31. The firm’s total holdings are worth over $208.72 million and represent 9.2598% of shares outstanding.
