Array Technologies Inc (NASDAQ:ARRY)’s traded shares stood at 0.39 million during the latest session, with the company’s beta value hitting 1.62. At the last check today, the stock’s price was $6.31, to imply an increase of 2.27% or $0.14 in intraday trading. The ARRY share’s 52-week high remains $20.15, putting it -219.33% down since that peak but still an impressive 11.89% since price per share fell to its 52-week low of $5.56. The company has a valuation of $958.68M, with an average of 4.78 million shares in intraday trading volume over the past 10 days and average of 5.74 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Array Technologies Inc (ARRY), translating to a mean rating of 1.84. Of 17 analyst(s) looking at the stock, 0 analyst(s) give ARRY a Sell rating. 0 of those analysts rate the stock as Overweight while 4 advise Hold as 13 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 0.14.
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Array Technologies Inc (NASDAQ:ARRY) trade information
After registering a 2.27% upside in the latest session, Array Technologies Inc (ARRY) has traded red over the past five days. The 5-day price performance for the stock is -7.34%, and -2.17% over 30 days. With these gigs, the year-to-date price performance is -62.44%. Short interest in Array Technologies Inc (NASDAQ:ARRY) saw shorts transact 32.56 million shares and set a 5.92 days time to cover.
The extremes give us $8 and $30 for target low and target high price respectively. As such, ARRY has been trading -375.44% off suggested target high and -26.78% from its likely low.
Array Technologies Inc (ARRY) estimates and forecasts
Looking at statistics comparing Array Technologies Inc share performance against respective industry, we note that the company has underperformed competitors. Array Technologies Inc (ARRY) shares are -49.11% down over the last 6 months, with its year-to-date growth rate lower than industry average at -42.48% against -15.60%. Revenue is forecast to shrink -30.00% this quarter before jumping 19.00% for the next one. The rating firms project that company’s revenue will shrink -39.70% compared to the previous financial year.
Revenue forecast for the current quarter as set by 22 analysts is 232.61M. Meanwhile, for the current quarter, a total of 21 analyst(s) estimate revenue growth to 303.6M.Earnings reports from the last fiscal year show that sales brought in 374.57M and 341.62M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -37.90% before dropping -11.10% in the following quarter.
ARRY Dividends
Array Technologies Inc has its next earnings report out on 2024-Nov-07. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Array Technologies Inc insiders hold 0.34% of total outstanding shares, with institutional holders owning 122.48% of the shares at 122.89% float percentage. In total, 122.48% institutions holds shares in the company, led by BLACKROCK INC. As of 2024-06-30, the company held over 15.25 million shares (or 10.0745% of shares), all amounting to roughly $156.44 million.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 13.98 million shares, or about 9.2401% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $143.49 million.
We also have Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF as the top two Mutual Funds with the largest holdings of the Array Technologies Inc (ARRY) shares. Going by data provided on Jun 30, 2024, Vanguard Total Stock Market Index Fund holds roughly 4.49 shares. This is just over 2.96% of the total shares, with a market valuation of $28.61 million. Data from the same date shows that the other fund manager holds a little less at 3.94, or 2.59% of the shares, all valued at about 25.09 million.
