209 institutions hold shares in Array Technologies Inc. (ARRY), with 15.03M shares held by insiders accounting for 11.83% while institutional investors hold 118.96% of the company’s shares. The shares outstanding are 104.89M, and float is at 98.98M with Short Float at 5.21%. Institutions hold 104.89% of the Float.
The top institutional shareholder in the company is FMR, LLC with over 19.02 million shares valued at $820.36 million. The investor’s holdings represent 14.97% of the ARRY Shares outstanding. As of Dec 30, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 17.49 million shares valued at $754.47 million to account for 13.77% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 6.44 million shares representing 5.07% and valued at over $277.97 million, while Zimmer Partners, LP holds 4.72% of the shares totaling 6.0 million with a market value of $258.84 million.
Array Technologies Inc. (NASDAQ: ARRY) is -34.47% lower on its value in year-to-date trading and has touched a low of $26.13 and a high of $54.78 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ARRY stock was last observed hovering at around $30.02 in the last trading session, with the day’s loss setting it -1.75% off its average median price target of $46.00 for the next 12 months. It is also 46.66% off the consensus price target high of $53.00 offered by 12 analysts, but current levels are 5.77% higher than the price target low of $30.00 for the same period.
Currently trading at $28.27, the stock is -9.88% and -25.26% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.75 million and changing -5.83% at the moment leaves the stock -29.37% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $34.43 and a 200-day simple moving average (SMA200) of $40.03.
The stock witnessed a -20.48% in the last 1 month and extending the period to 3 months gives it a -34.47%, and is -0.67% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.84% over the week and 7.93% over the month.
Array Technologies Inc. (ARRY) has around 389 employees, a market worth around $3.57B and $872.70M in sales. Current P/E ratio is 73.24 and Fwd P/E is 27.08. Profit margin for the company is 6.80%. Distance from 52-week low is 8.19% and -48.39% from its 52-week high. The company has generated returns on investments over the last 12 months (20.10%).
Array Technologies Inc. (ARRY) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Array Technologies Inc. (ARRY) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.40, where 6 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Array Technologies Inc. is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.2 with sales reaching $240.83M over the same period.The EPS is expected to grow by 38.00% this year, but quarterly earnings will post 23.00% year-over-year.
Array Technologies Inc. (ARRY) Insider Activity
A total of 12 insider transactions have happened at Array Technologies Inc. (ARRY) in the last six months, with sales accounting for 4 and purchases happening 8 times. The most recent transaction is an insider sale by ATI Investment Parent, LLC, the company’s 10% Owner. SEC filings show that ATI Investment Parent, LLC sold 36,656,250 shares of the company’s common stock on Dec 07 at a price of $33.95 per share for a total of $1.24 billion. Following the sale, the insider now owns 35.71 million shares.