Array Technologies Inc. (NASDAQ: ARRY) is 24.37% higher on its value in year-to-date trading and has touched a low of $5.45 and a high of $24.59 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ARRY stock was last observed hovering at around $23.25 in the last trading session, with the day’s gains setting it 0.79% off its average median price target of $28.00 for the next 12 months. It is also 33.22% off the consensus price target high of $36.00 offered by 16 analysts, but current levels are -50.25% lower than the price target low of $16.00 for the same period.
Currently trading at $24.04, the stock is 15.66% and 14.60% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.76 million and changing 3.40% at the moment leaves the stock 51.16% off its SMA200. ARRY registered 125.09% gain for a year compared to 6-month gain of 96.41%.
The stock witnessed a 11.66% loss in the last 1 month and extending the period to 3 months gives it a 58.78%, and is 1.82% up 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 7.55% over the week and 7.57% over the month.
Array Technologies Inc. (ARRY) has around 1118 employees, a market worth around $3.55B and $1.46B in sales. Fwd P/E is 25.20. Profit margin for the company is -3.90%. Distance from 52-week low is 341.51% and -2.24% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.20%).
Array Technologies Inc. (ARRY) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Array Technologies Inc. (ARRY) is a “Overweight”. 16 analysts offering their recommendations for the stock have an average rating of 2.20, where 3 rate it as a Hold and 1 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Array Technologies Inc. is expected to release its quarterly report on 05/09/2023.The EPS is expected to shrink by -217.80% this year.
Array Technologies Inc. (ARRY) Top Institutional Holders
The shares outstanding are 150.32M, and float is at 148.53M with Short Float at 12.20%.
Array Technologies Inc. (ARRY) Insider Activity
A total of 6 insider transactions have happened at Array Technologies Inc. (ARRY) in the last six months, with sales accounting for 4 and purchases happening 2 times. The most recent transaction is an insider sale by Hottinger Tyson,the company’sChief Legal Officer. SEC filings show that Hottinger Tyson sold 8,500 shares of the company’s common stock on Nov 16 at a price of $20.74 per share for a total of $0.18 million. Following the sale, the insider now owns 75547.0 shares.
Array Technologies Inc. disclosed in a document filed with the SEC on Sep 19 that Stacherski Kenneth R. (Chief Operations Officer) sold a total of 1,327 shares of the company’s common stock. The trade occurred on Sep 19 and was made at $18.39 per share for $24409.0. Following the transaction, the insider now directly holds 99902.0 shares of the ARRY stock.
Still, SEC filings show that on Aug 26, Schmid Gerrard (Director) acquired 7,000 shares at an average price of $21.66 for $0.15 million. The insider now directly holds 41,269 shares of Array Technologies Inc. (ARRY).
Array Technologies Inc. (ARRY): Who are the competitors?
The company’s main competitors (and peers) include Flex Ltd. (FLEX) that is trading 49.54% up over the past 12 months.