In last trading session, Array Technologies Inc (NASDAQ:ARRY) saw 5.87 million shares changing hands with its beta currently measuring 1.66. Company’s recent per share price level of $11.12 trading at $0.17 or 1.55% at ring of the bell on the day assigns it a market valuation of $1.69B. That closing price of ARRY’s stock is at a discount of -139.57% from its 52-week high price of $26.64 and is indicating a premium of 16.01% from its 52-week low price of $9.34. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 5.47 million shares which gives us an average trading volume of 5.53 million if we extend that period to 3-months.
For Array Technologies Inc (ARRY), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.82. Splitting up the data highlights that, out of 14 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.11 in the current quarter.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Upright in the green during last session for gaining 1.55%, in the last five days ARRY remained trading in the red while hitting it’s week-highest on Thursday, 07/18/24 when the stock touched $11.12 price level, adding 3.3% to its value on the day. Array Technologies Inc’s shares saw a change of -33.81% in year-to-date performance and have moved -0.71% in past 5-day. Array Technologies Inc (NASDAQ:ARRY) showed a performance of 1.46% in past 30-days. Number of shares sold short was 24.91 million shares which calculate 5.4 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 18 to the stock, which implies a rise of 38.22% to its current value. Analysts have been projecting 14 as a low price target for the stock while placing it at a high target of 30. It follows that stock’s current price would drop -25.9% in reaching the projected high whereas dropping to the targeted low would mean a loss of -25.9% for stock’s current value.
Array Technologies Inc (ARRY) estimates and forecasts
Statistics highlight that Array Technologies Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -17.08% of value to its shares in past 6 months, showing an annual growth rate of -4.42% while that of industry is -4.90. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -17.30% from the last financial year’s standing.
23 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 231.62M for the same. And 22 analysts are in estimates of company making revenue of 421.91M in the next quarter. Company posted 507.73M and 374.57M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around -4.40% while estimates for its earnings growth in next 5 years are of 9.30%.
ARRY Dividends
Array Technologies Inc is more likely to be releasing its next quarterly report in August and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Insiders are in possession of 0.34% of company’s total shares while institution are holding 132.78 percent of that, with stock having share float percentage of 133.23%. Investors also watch the number of corporate investors in a company very closely, which is 132.78% institutions for Array Technologies Inc that are currently holding shares of the company. BLACKROCK INC. is the top institutional holder at ARRY for having 16.2 million shares of worth $241.48 million. And as of 2024-03-31, it was holding 10.7133 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 14.0 million shares on 2024-03-31. The number of shares represents firm’s hold over 9.2598 of outstanding shares, having a total worth of $208.72 million.
