A share price of Array Technologies Inc [ARRY] is currently trading at $6.59, down -4.35%. An important factor to consider is whether the stock is rising or falling in short-term value. The ARRY shares have gain 3.45% over the last week, with a monthly amount drifted -38.24%, 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 August 09, 2024, when TD Cowen reiterated its Hold rating and also revised its price target to $11.50 from $16.50. Previously, ROTH MKM downgraded its rating to Neutral on August 09, 2024, and dropped its price target to $8. On July 12, 2024, upgrade upgraded it’s rating to Buy and revised its price target to $14 on the stock. Susquehanna started tracking the stock assigning a Positive rating and suggested a price target of $14 on June 28, 2024. Oppenheimer upgraded its rating to a Outperform but $20 remained the price target by the analyst firm on May 10, 2024. Barclays upgraded its rating to Overweight for this stock on April 02, 2024, and upped its price target to $18. In a note dated March 22, 2024, BMO Capital Markets initiated an Market Perform rating and provided a target price of $16 on this stock.
Array Technologies Inc experienced fluctuations in its stock price throughout the past year between $6.31 and $26.64. Currently, Wall Street analysts expect the stock to reach $16.5 within the next 12 months. Array Technologies Inc [NASDAQ: ARRY] shares were valued at $6.59 at the most recent close of the market. An investor can expect a potential return of 150.38% based on the average ARRY price forecast.
Analyzing the ARRY fundamentals
Trailing Twelve Months sales for Array Technologies Inc [NASDAQ:ARRY] were 1.10B which represents -49.63% decline. Gross Profit Margin for this corporation currently stands at 0.26% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.08%, and Net Profit Margin reading is 0.07%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.12 and Total Capital is 0.09. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.18.
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 6.48 points at the first support level, and at 6.36 for the second support level. However, for the 1st resistance point, the stock is sitting at 6.78, and for the 2nd resistance point, it is at 6.97.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Array Technologies Inc [NASDAQ:ARRY] is 2.51. On the other hand, the Quick Ratio is 2.02, and the Cash Ratio is 0.84. Considering the valuation of this stock, the price to sales ratio is 0.91, the price to book ratio is 5.01 and price to earnings (TTM) ratio is 60.13.
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.
