At the time of writing, Array Technologies Inc [ARRY] stock is trading at $9.90, up 4.87%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The ARRY shares have gain 2.80% over the last week, with a monthly amount drifted -26.34%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Array Technologies Inc [NASDAQ: ARRY] stock has seen the most recent analyst activity on June 28, 2024, when Susquehanna initiated its Positive rating and assigned the stock a price target of $14. Previously, Oppenheimer upgraded its rating to Outperform on May 10, 2024, and kept the price target unchanged to $20. On April 02, 2024, upgrade upgraded it’s rating to Overweight and revised its price target to $18 on the stock. BMO Capital Markets started tracking the stock assigning a Market Perform rating and suggested a price target of $16 on March 22, 2024. KeyBanc Capital Markets initiated its recommendation with a Sector Weight. TD Cowen reiterated a Market Perform rating for this stock on February 28, 2024, and downed its price target to $16.50. In a note dated February 28, 2024, Exane BNP Paribas downgraded an Underperform rating on this stock but restated the target price of $12.
For the past year, the stock price of Array Technologies Inc fluctuated between $9.34 and $26.64. Currently, Wall Street analysts expect the stock to reach $19 within the next 12 months. Array Technologies Inc [NASDAQ: ARRY] shares were valued at $9.90 at the most recent close of the market. An investor can expect a potential return of 91.92% based on the average ARRY price forecast.
Analyzing the ARRY fundamentals
According to Array Technologies Inc [NASDAQ:ARRY], the company’s sales were 1.35B for trailing twelve months, which represents an -59.29% plunge. Gross Profit Margin for this corporation currently stands at 0.26% with Operating Profit Margin at 0.13%, Pretax Profit Margin comes in at 0.11%, and Net Profit Margin reading is 0.08%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.19 and Total Capital is 0.13. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.14.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 9.55 points at the first support level, and at 9.21 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.15, and for the 2nd resistance point, it is at 10.41.
Ratios To Look Out For
It is important to note that Array Technologies Inc [NASDAQ:ARRY] has a current ratio of 2.73. In addition, the Quick Ratio stands at 2.10 and the Cash Ratio stands at 1.01. Considering the valuation of this stock, the price to sales ratio is 1.11, the price to book ratio is 6.50 and price to earnings (TTM) ratio is 26.54.
Transactions by insiders
Recent insider trading involved Hostetler Kevin G., Chief Executive Officer, that happened on Mar 20 ’24 when 8176.0 shares were sold. Chief Legal Officer, Hottinger Tyson completed a deal on Sep 01 ’23 to sell 7500.0 shares. Meanwhile, Chief Financial Officer Patel Nipul M. sold 54593.0 shares on Aug 14 ’23.
