At the time of writing, Array Technologies Inc [ARRY] stock is trading at $7.16, up 9.82%. 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 11.01% over the last week, with a monthly amount glided 7.19%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Previously, TD Cowen reaffirmed its Hold rating on August 09, 2024, and dropped its price target to $11.50. On August 09, 2024, downgrade downgraded it’s rating to Neutral and revised its price target to $8 on the stock. Citigroup upgraded its rating to a Buy and decreased its price target to $14 on July 12, 2024. Susquehanna initiated its recommendation with a Positive and recommended $14 as its price target on June 28, 2024. Oppenheimer upgraded its rating to Outperform for this stock on May 10, 2024, but kept the price target unchanged to $20. In a note dated April 02, 2024, Barclays upgraded an Overweight rating on this stock and boosted its target price from $15 to $18.
For the past year, the stock price of Array Technologies Inc fluctuated between $5.56 and $21.65. Currently, Wall Street analysts expect the stock to reach $16.13 within the next 12 months. Array Technologies Inc [NASDAQ: ARRY] shares were valued at $7.16 at the most recent close of the market. An investor can expect a potential return of 125.28% based on the average ARRY price forecast.
Analyzing the ARRY fundamentals
According to Array Technologies Inc [NASDAQ:ARRY], the company’s sales were 1.10B for trailing twelve months, which represents an -49.63% plunge. 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. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.18.
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 6.69 points at the first support level, and at 6.22 for the second support level. However, for the 1st resistance point, the stock is sitting at 7.41, and for the 2nd resistance point, it is at 7.66.
Ratios To Look Out For
It is important to note that Array Technologies Inc [NASDAQ:ARRY] has a current ratio of 2.51. In addition, the Quick Ratio stands at 2.02 and the Cash Ratio stands at 0.84. Considering the valuation of this stock, the price to sales ratio is 0.99, the price to book ratio is 5.44 and price to earnings (TTM) ratio is 65.33.
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.
