In today’s recent session, 0.62 million shares of the Array Technologies Inc (NASDAQ:ARRY) have been traded, and its beta is 1.64. Most recently the company’s share price was $5.53, and it changed around $0.06 or 1.01% from the last close, which brings the market valuation of the company to $839.88M. ARRY at last check was trading at a discount to its 52-week high of $15.35, offering almost -177.58% off that amount. The share price’s 52-week low was $4.89, which indicates that the recent value has risen by an impressive 11.57% since then. We note from Array Technologies Inc’s average daily trading volume that its 10-day average is 4.38 million shares, with the 3-month average coming to 5.34 million.
Array Technologies Inc stock received a consensus recommendation rating of Hold, 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, 13 recommended ARRY as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Array Technologies Inc is expected to report earnings per share of 0.08 for the current quarter.
Array Technologies Inc (NASDAQ:ARRY) trade information
Instantly ARRY has been showing a green trend so far today with a performance of 1.01% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.19 on recent trading dayincreased the stock’s daily price by 10.66%. The company’s shares are currently down -8.53% year-to-date, but still down -9.87% over the last five days. On the other hand, Array Technologies Inc (NASDAQ:ARRY) is -17.41% down in the 30-day period. We can see from the shorts that 21.05 million shares have been sold at a short interest cover period of 3.98 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 38.56% from its current value. Analyst projections state that ARRY is forecast to be at a low of $6 and a high of $13.
Array Technologies Inc (ARRY) estimates and forecasts
The year-over-year growth rate is expected to be 19.74%, up from the previous year.
Consensus estimates provided by 18 financial analysts predict the company will bring in an average of 264.13M in revenue for the current quarter. 19 analysts expect Array Technologies Inc to make 283.02M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 153.4M and 255.77M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 72.18%. Forecasts for the next quarter put sales growth at 10.65%.
Array Technologies Inc earnings are expected to increase by 1.10% in 2025, but the outlook is positive 15.41% per year for the next five years.
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 124.89% of them are in the hands of institutional investors. The stock currently has a share float of 125.31%. Array Technologies Inc stock is held by 368.0 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.
Vanguard Total Stock Market Index Fund and Invesco Solar ETF were the top two Mutual Funds as of Dec 31, 2024. The former held 4.55 shares worth $25.23 million, making up 3.00% of all outstanding shares. On the other hand, Invesco Solar ETF held roughly 4.16 shares worth around $23.02 million, which represents about 2.73% of the total shares outstanding.
