In recent trading session, Array Technologies Inc (NASDAQ:ARRY) saw 5.48 million shares changing hands at last check today with its beta currently measuring 1.58. Company’s recent per share price level of $6.21 trading at $0.27 or 4.55% at last check today assigns it a market valuation of $943.48M. That most recent trading price of ARRY’s stock is at a discount of -224.48% from its 52-week high price of $20.15 and is indicating a premium of 10.47% from its 52-week low price of $5.56. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 8.73 million shares which gives us an average trading volume of 6.37 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 1.92. Splitting up the data highlights that, out of 17 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 13 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.14 in the current quarter.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Upright in the green today for gaining 4.55%, in the last five days ARRY remained trading in the red while hitting it’s week-highest on Monday, 11/04/24 when the stock touched $6.21 price level, adding 19.66% to its value on the day. Array Technologies Inc’s shares saw a change of -63.04% in year-to-date performance and have moved -4.90% in past 5-day. Array Technologies Inc (NASDAQ:ARRY) showed a performance of -10.13% in past 30-days. Number of shares sold short was 32.47 million shares which calculate 6.76 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 17 to the stock, which implies a rise of 63.47% to its recent value today. Analysts have been projecting 8 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 -28.82% in reaching the projected high whereas dropping to the targeted low would mean a loss of -28.82% for stock’s current value.
Array Technologies Inc (ARRY) estimates and forecasts
Statistics highlight that Array Technologies Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -50.36% of value to its shares in past 6 months, showing an annual growth rate of -42.48% while that of industry is -18.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to fall -39.80% from the last financial year’s standing.
22 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 232.61M for the same. And 21 analysts are in estimates of company making revenue of 301.47M in the next quarter. Company posted 374.57M and 341.62M of sales in current and next quarters respectively a year earlier.
In 2024, company’s earnings growth rate is likely to be around -40.24% while estimates for its earnings growth in next 5 years are of 9.91%.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Insiders are in possession of 0.34% of company’s total shares while institution are holding 122.65 percent of that, with stock having share float percentage of 123.06%. Investors also watch the number of corporate investors in a company very closely, which is 122.65% institutions for Array Technologies Inc that are currently holding shares of the company. BLACKROCK INC. is the top institutional holder at ARRY for having 15.25 million shares of worth $156.44 million. And as of 2024-06-30, it was holding 10.0745 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 13.98 million shares on 2024-06-30. The number of shares represents firm’s hold over 9.2401 of outstanding shares, having a total worth of $143.49 million.
