In the latest trading session,, 1.18 million Array Technologies Inc (NASDAQ:ARRY) shares changed hands as the company’s beta touched 1.62. With the company’s most recent per share price at $3.96 changed hands at -$0.02 or -0.38% at last look, the market valuation stands at $602.73M. ARRY’s current price is a discount, trading about -275.0% off its 52-week high of $14.85. The share price had its 52-week low at $3.89, which suggests the last value was 1.77% up since then. When we look at Array Technologies Inc’s average trading volume, we note the 10-day average is 4.01 million shares, with the 3-month average coming to 5.13 million.
Analysts gave the Array Technologies Inc (ARRY) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.96. 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 (NASDAQ:ARRY) trade information
Instantly ARRY was in red as seen in intraday trades today. With action -19.74%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -34.35%, with the 5-day performance at -19.74% in the red. However, in the 30-day time frame, Array Technologies Inc (NASDAQ:ARRY) is -36.76% down. Looking at the short shares, we see there were 20.5 million shares sold at short interest cover period of 3.27 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9, meaning bulls need an upside of 56.0% from its recent market value. According to analyst projections, ARRY’s forecast low is 6 with 13 as the target high. To hit the forecast high, the stock’s price needs a -228.28% plunge from its current level, while the stock would need to soar -51.52% for it to hit the projected low.
Array Technologies Inc (NASDAQ:ARRY)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.34% of Array Technologies Inc shares while 123.87% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 124.29%. There are 123.87% institutions holding the Array Technologies Inc stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 10.0449% 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 Dec 31, 2024 were VANGUARD INDEX FUNDS-Vanguard Total Stock Market Index Fund and iShares Trust-iShares Russell 2000 ETF . With 4.55 shares estimated at $18.06 million under it, the former controlled 3.00% of total outstanding shares. On the other hand, iShares Trust-iShares Russell 2000 ETF held about 2.60% of the shares, roughly 3.95 shares worth around $15.68 million.
