Array Technologies Inc (NASDAQ:ARRY) has a beta value of 1.61 and has seen 2.08 million shares traded in the recent trading session. The company, currently valued at $809.48M, closed the recent trade at $5.33 per share which meant it gained $0.17 on the day or 3.25% during that session. The ARRY stock price is -257.04% off its 52-week high price of $19.03 and 3.38% above the 52-week low of $5.15. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.41 million shares traded. The 3-month trading volume is 6.44 million shares.
The consensus among analysts is that Array Technologies Inc (ARRY) is Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 17 have rated it as a Hold, with 13 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.17.
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Array Technologies Inc (NASDAQ:ARRY) trade information
Sporting 3.25% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the ARRY stock price touched $5.33 or saw a rise of 11.9%. Year-to-date, Array Technologies Inc shares have moved -68.29%, while the 5-day performance has seen it change -9.09%. Over the past 30 days, the shares of Array Technologies Inc (NASDAQ:ARRY) have changed -22.23%. Short interest in the company has seen 21.91 million shares shorted with days to cover at 2.58.
Wall Street analysts have a consensus price target for the stock at $11, which means that the shares’ value could jump 51.55% from the levels at last check today. The projected low price target is $8.0 while the price target rests at a high of $18.0. In that case, then, we find that the latest price level in today’s session is -237.71% off the targeted high while a plunge would see the stock gain -50.09% from the levels at last check today.
Array Technologies Inc (ARRY) estimates and forecasts
Figures show that Array Technologies Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -58.44% over the past 6 months, with this year growth rate of -46.02%, compared to -12.70% for the industry. Revenue growth from the last financial year stood is estimated to be -42.36%.
18 analysts offering their estimates for the company have set an average revenue estimate of 268.53M for the current quarter. 15 have an estimated revenue figure of 222.57M for the next ending quarter. Year-ago sales stood 341.62M and 153.4M respectively for this quarter and the next, and analysts expect sales will shrink by -21.39% for the current quarter and -42.36% for the next.
Earnings growth for 2024 is a modest -45.86% while over the next 5 years, the company’s earnings are expected to increase by 11.91%.
ARRY Dividends
Array Technologies Inc is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Insiders own 0.34% of the company shares, while shares held by institutions stand at 126.39% with a share float percentage of 126.83%. Investors are also buoyed by the number of investors in a company, with Array Technologies Inc having a total of 431.0 institutions that hold shares in the company. The top two institutional holders are BLACKROCK INC. with over 15.25 million shares worth more than $156.44 million. As of 2024-06-30, BLACKROCK INC. held 10.0745% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 13.98 million shares as of 2024-06-30. The firm’s total holdings are worth over $143.49 million and represent 9.2401% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of Sep 30, 2024, the former fund manager holds about 2.99% shares in the company for having 4.55 shares of worth $24.47 million while later fund manager owns 3.94 shares of worth $21.19 million as of Sep 30, 2024, which makes it owner of about 2.59% of company’s outstanding stock.
