During the recent session, Array Technologies Inc (NASDAQ:ARRY)’s traded shares were 0.86 million, with the beta value of the company hitting 1.62. At the last check today, the stock’s price was $6.51, reflecting an intraday gain of 1.97% or $0.12. The 52-week high for the ARRY share is $16.22, that puts it down -149.16 from that peak though still a striking 20.89% gain since the share price plummeted to a 52-week low of $5.15. The company’s market capitalization is $989.27M, and the average intraday trading volume over the past 10 days was 5.74 million shares, and the average trade volume was 6.85 million shares over the past three months.
Array Technologies Inc (ARRY) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.08. ARRY has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 4 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 13 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.18.
Array Technologies Inc (NASDAQ:ARRY) trade information
Array Technologies Inc (ARRY) registered a 1.97% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.97% in intraday trading to $6.51, hitting a weekly high. The stock’s 5-day price performance is -2.68%, and it has moved by 21.93% in 30 days. Based on these gigs, the overall price performance for the year is -50.60%. The short interest in Array Technologies Inc (NASDAQ:ARRY) is 23.87 million shares and it means that shorts have 4.15 day(s) to cover.
The consensus price target of analysts on Wall Street is $10, which implies an increase of 34.9% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $8 and $17 respectively. As a result, ARRY is trading at a discount of -161.14% off the target high and -22.89% off the low.
Array Technologies Inc (ARRY) estimates and forecasts
Statistics show that Array Technologies Inc has underperformed its competitors in share price, compared to the industry in which it operates. Array Technologies Inc (ARRY) shares have gone down -40.54% during the last six months, with a year-to-date growth rate less than the industry average at -45.13% against -14.70. In the rating firms’ projections, revenue will decrease -42.36% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 267.94M as predicted by 19 analyst(s). Meanwhile, a consensus of 16 analyst(s) estimates revenue growth to 218.46M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 341.62M and 153.4M respectively. In this case, analysts expect current quarter sales to shrink by -21.57% and then jump by 42.41% in the coming quarter.
While earnings are projected to return -46.06% in 2025, the next five years will return -6.00% per annum.
ARRY Dividends
Array Technologies Inc is due to release its next quarterly earnings in February. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
Array Technologies Inc insiders own 0.29% of total outstanding shares while institutional holders control 132.36%, with the float percentage being 132.74%. BLACKROCK INC. is the largest shareholder of the company, while 423.0 institutions own stock in it. As of 2024-06-30, the company held over 15.25 million shares (or 10.0745% of all shares), a total value of $156.44 million in shares.
The next largest institutional holding, with 13.98 million shares, is of VANGUARD GROUP INC’s that is approximately 9.2401% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $143.49 million.
Also, the Mutual Funds coming in first place with the largest holdings of Array Technologies Inc (ARRY) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Sep 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 4.55 shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $29.7 million market value. The same data shows that the other fund manager holds slightly less at 3.93, or about 2.59% of the stock, which is worth about $25.67 million.
