In the last trading session, 7.28 million shares of the Array Technologies Inc (NASDAQ:ARRY) were traded, and its beta was 1.61. Most recently the company’s share price was $5.62, and it changed around -$0.35 or -5.86% from the last close, which brings the market valuation of the company to $803.86M. ARRY currently trades at a discount to its 52-week high of $20.15, offering almost -258.54% off that amount. The share price’s 52-week low was $5.56, which indicates that the current value has risen by an impressive 1.07% since then. We note from Array Technologies Inc’s average daily trading volume that its 10-day average is 5.1 million shares, with the 3-month average coming to 6.42 million.
Array Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.96. If we narrow it down even further, the data shows that 0 out of 27 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 11 recommended ARRY as a Hold, whereas 12 deemed it a Buy, and 1 rated it as Underweight.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Instantly ARRY has showed a red trend with a performance of -5.86% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.88 on recent trading dayincreased the stock’s daily price by 18.31%. The company’s shares are currently down -66.55% year-to-date, but still down -16.24% over the last five days. On the other hand, Array Technologies Inc (NASDAQ:ARRY) is -5.39% down in the 30-day period. We can see from the shorts that 22.17 million shares have been sold at a short interest cover period of 2.61 day(s).
The consensus price target as assigned by Wall Street analysts is $11, which translates to bulls needing to increase their stock price by 48.91% from its current value. Analyst projections state that ARRY is forecast to be at a low of $8 and a high of $18.
Array Technologies Inc (ARRY) estimates and forecasts
Array Technologies Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -58.18 percent over the past six months and at a -44.25% annual growth rate that is well below the industry average of -21.00%.
Array Technologies Inc earnings are expected to increase by -45.55% in 2024, but the outlook is positive 11.91% per year for the next five years.
ARRY Dividends
Array Technologies Inc’s next quarterly earnings report is expected to be released in January.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.34% of Array Technologies Inc shares, and 126.19% of them are in the hands of institutional investors. The stock currently has a share float of 126.63%. Array Technologies Inc stock is held by 433.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 10.0745% of the shares, which is about 15.25 million shares worth $156.44 million.
VANGUARD GROUP INC, with 9.2401% or 13.98 million shares worth $143.49 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
