In the last trading session, 3.01 million Array Technologies Inc (NASDAQ:ARRY) shares changed hands as the company’s beta touched 1.62. With the company’s per share price at $6.71 changed hands at -$0.29 or -4.14% during last session, the market valuation stood at $977.30M. ARRY’s last price was a discount, traded about -200.3% off its 52-week high of $20.15. The share price had its 52-week low at $5.56, which suggests the last value was 17.14% up since then. When we look at Array Technologies Inc’s average trading volume, we note the 10-day average is 5.02 million shares, with the 3-month average coming to 6.42 million.
Analysts gave the Array Technologies Inc (ARRY) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.96. If we narrow down to specifics, the data shows that 0 out of 17 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended ARRY as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Instantly ARRY was in red as seen at the end of in last trading. With action 6.00%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -60.06%, with the 5-day performance at 6.00% in the green. However, in the 30-day time frame, Array Technologies Inc (NASDAQ:ARRY) is 7.88% up. Looking at the short shares, we see there were 22.17 million shares sold at short interest cover period of 2.61 days.
The consensus price target for the stock as assigned by Wall Street analysts is 17, meaning bulls need an upside of 60.53% from its current market value. According to analyst projections, ARRY’s forecast low is 8 with 30 as the target high. To hit the forecast high, the stock’s price needs a -347.09% plunge from its current level, while the stock would need to soar -19.23% for it to hit the projected low.
Array Technologies Inc (ARRY) estimates and forecasts
Data shows that the Array Technologies Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -52.68% over the past 6 months, a -44.25% in annual growth rate that is considerably lower than the industry average of -20.60%.
The 2024 estimates are for Array Technologies Inc earnings to decrease by -45.55%, but the outlook for the next 5-year period is at 11.91% per year.
ARRY Dividends
Array Technologies Inc is expected to release its next quarterly earnings report in January.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.34% of Array Technologies Inc shares while 125.64% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 126.07%. There are 125.64% institutions holding the Array Technologies Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 10.0745% of the shares, roughly 15.25 million ARRY shares worth $156.44 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 9.2401% or 13.98 million shares worth $143.49 million as of 2024-06-30.
