Array Technologies Inc [ARRY] stock prices are up 8.69% to $11.76 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ARRY shares have gain 22.25% over the last week, with a monthly amount drifted -10.50%, 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 July 12, 2024, when Citigroup upgraded its rating to a Buy and also revised its price target to $14 from $17. Previously, Susquehanna started tracking the stock with Positive rating on June 28, 2024, and set its price target to $14. On May 10, 2024, upgrade upgraded it’s rating to Outperform but maintained its price target of $20 on the stock. Barclays upgraded its rating to a Overweight and increased its price target to $18 on April 02, 2024. BMO Capital Markets initiated its recommendation with a Market Perform and recommended $16 as its price target on March 22, 2024. In a note dated February 28, 2024, TD Cowen reiterated an Market Perform rating on this stock and revised its target price from $22.50 to $16.50.
The stock price of Array Technologies Inc [ARRY] has been fluctuating between $9.34 and $26.64 over the past year. Currently, Wall Street analysts expect the stock to reach $18.9 within the next 12 months. Array Technologies Inc [NASDAQ: ARRY] shares were valued at $11.76 at the most recent close of the market. An investor can expect a potential return of 60.71% based on the average ARRY price forecast.
Analyzing the ARRY fundamentals
The Array Technologies Inc [NASDAQ:ARRY] reported sales of 1.35B for trailing twelve months, representing a drop of -59.29%. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.14.
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 11.35 points at the first support level, and at 10.95 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.11, and for the 2nd resistance point, it is at 12.47.
Ratios To Look Out For
It’s worth pointing out that Array Technologies Inc [NASDAQ:ARRY]’s Current Ratio is 2.73. Further, the Quick Ratio stands at 2.10, while the Cash Ratio is 1.01. Considering the valuation of this stock, the price to sales ratio is 1.32, the price to book ratio is 7.72 and price to earnings (TTM) ratio is 31.53.
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.
