Array Technologies Inc (NASDAQ: ARRY) is -30.18% lower on its value in year-to-date trading and has touched a low of $11.56 and a high of $26.64 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 $11.91 in the last trading session, with the day’s loss setting it -0.18%.
Currently trading at $11.73, the stock is -12.29% and -14.98% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.82 million and changing -1.51% at the moment leaves the stock -36.05% off its SMA200. ARRY registered -36.25% loss for a year compared to 6-month loss of -55.43%. The firm has a 50-day simple moving average (SMA 50) of $1.65 and a 200-day simple moving average (SMA200) of $9.43.
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The stock witnessed a -21.90% gain in the last 1 month and extending the period to 3 months gives it a -36.42%, and is -8.43% 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 4.56% over the week and 5.40% over the month.
Array Technologies Inc (ARRY) has around 1028 employees, a market worth around $1.77B and $1.58B in sales. Current P/E ratio is 21.81 and Fwd P/E is 8.13. Profit margin for the company is 5.19%. Distance from 52-week low is 1.47% and -55.97% from its 52-week high. The company has generated returns on investments over the last 12 months (6.34%).
Array Technologies Inc quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $177.27M over the same period.The EPS is expected to shrink by -7.11% this year, but quarterly earnings will post -12.40% year-over-year. Quarterly sales are estimated to shrink -53.00% in year-over-year returns.
Array Technologies Inc (ARRY) Top Institutional Holders
432 institutions hold shares in Array Technologies Inc (ARRY), with institutional investors hold 126.23% of the company’s shares. The shares outstanding are 151.24M, and float is at 148.06M with Short Float at 17.52%. Institutions hold 125.12% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 17.97 million shares valued at $406.06 million. The investor’s holdings represent 11.89% of the ARRY Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 13.77 million shares valued at $311.09 million to account for 9.11% of the shares outstanding. The other top investors are Norges Bank Investment Management which holds 7.12 million shares representing 4.71% and valued at over $137.6 million, while Frontier Capital Management Company LLC holds 4.67% of the shares totaling 7.05 million with a market value of $159.42 million.
Array Technologies Inc (ARRY) Insider Activity
The most recent transaction is an insider sale by Hottinger Tyson,the company’sChief Legal Officer. SEC filings show that Hottinger Tyson sold 7,500 shares of the company’s common stock on Sep 01 ’23 at a price of $25.04 per share for a total of $0.19 million. Following the sale, the insider now owns 69618.0 shares.
Array Technologies Inc disclosed in a document filed with the SEC on Aug 14 ’23 that Patel Nipul M. (Chief Financial Officer) sold a total of 54,593 shares of the company’s common stock. The trade occurred on Aug 14 ’23 and was made at $23.12 per share for $1.26 million. Following the transaction, the insider now directly holds 82827.0 shares of the ARRY stock.
Still, SEC filings show that on Aug 11 ’23, Hottinger Tyson (Chief Legal Officer) disposed off 8,500 shares at an average price of $23.32 for $0.2 million. The insider now directly holds 77,118 shares of Array Technologies Inc (ARRY).
