In the latest trading session, 0.78 million Array Technologies Inc (NASDAQ:ARRY) shares changed hands as the company’s beta touched 1.63. With the company’s most recent per share price at $7.36 changing hands around $0.34 or 4.84% at last look, the market valuation stands at $1.12B. ARRY’s current price is a discount, trading about -120.38% off its 52-week high of $16.22. The share price had its 52-week low at $5.15, which suggests the last value was 30.03% up since then. When we look at Array Technologies Inc’s average trading volume, we note the 10-day average is 5.0 million shares, with the 3-month average coming to 6.65 million.
Analysts gave the Array Technologies Inc (ARRY) stock a consensus recommendation rating of Buy, calculated at a mean rating of 2.08. 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. Array Technologies Inc’s EPS for the current quarter is expected to be 0.17.
Array Technologies Inc (NASDAQ:ARRY) trade information
Instantly ARRY is in green as seen in intraday trades today. With action 10.18%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 21.85%, with the 5-day performance at 10.18% in the green. However, in the 30-day time frame, Array Technologies Inc (NASDAQ:ARRY) is 9.20% up. Looking at the short shares, we see there were 26.04 million shares sold at short interest cover period of 4.87 days.
The consensus price target for the stock as assigned by Wall Street analysts is 10, meaning bulls need an upside of 26.4% from its recent market value. According to analyst projections, ARRY’s forecast low is 8 with 17 as the target high. To hit the forecast high, the stock’s price needs a -130.98% plunge from its current level, while the stock would need to soar -8.7% 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 -21.79% over the past 6 months, a -46.02% in annual growth rate that is considerably lower than the industry average of -12.50%. Year-over-year growth is forecast to reach -42.34% down from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of 268.38M. 17 analysts are of the opinion that Array Technologies Inc’s revenue for the current quarter will be 217.79M. The company’s revenue for the corresponding quarters a year ago was 341.62M and 153.4M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -21.44%. The estimates for the next quarter sales put growth at 41.97%.
The 2025 estimates are for Array Technologies Inc earnings to decrease by -46.06%, but the outlook for the next 5-year period is at -7.33% per year.
ARRY Dividends
Array Technologies Inc is expected to release its next quarterly earnings report in March.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.29% of Array Technologies Inc shares while 131.58% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 131.96%. There are 131.58% 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.
Among Mutual Funds, the top two as of Sep 30, 2024 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 4.55 shares estimated at $33.61 million under it, the former controlled 2.99% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.81% of the shares, roughly 4.26 shares worth around $31.51 million.
