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Is There a Dimmer Outlook Ahead for Array Technologies Inc. (ARRY)?

Array Technologies Inc. (NASDAQ:ARRY) went up by 3.70% from its latest closing price compared to the recent 1-year high of $27.67. The company’s stock price has collected -9.99% of loss in the last five trading sessions. Barron’s reported 12 hours ago that Array Stock Upgraded as Analyst Says Solar Company Looks Strong Heading Into 2023

Is It Worth Investing in Array Technologies Inc. (NASDAQ :ARRY) Right Now?

Opinions of the stock are interesting as 9 analysts out of 14 who provided ratings for Array Technologies Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 3 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $26.77, which is $7.67 above the current price. ARRY currently public float of 148.10M and currently shorts hold a 10.73% ratio of that float. Today, the average trading volume of ARRY was 4.60M shares.

ARRY’s Market Performance

ARRY stocks went down by -9.99% for the week, with a monthly drop of -16.98% and a quarterly performance of 45.28%, while its annual performance rate touched -0.11%. The volatility ratio for the week stands at 6.51% while the volatility levels for the past 30 days are set at 8.04% for Array Technologies Inc. The simple moving average for the period of the last 20 days is -10.68% for ARRY stocks with a simple moving average of 41.42% for the last 200 days.

Analysts’ Opinion of ARRY

Many brokerage firms have already submitted their reports for ARRY stocks, with Piper Sandler repeating the rating for ARRY by listing it as a “Overweight.” The predicted price for ARRY in the upcoming period, according to Piper Sandler is $28 based on the research report published on September 19th of the current year 2022.

Morgan Stanley, on the other hand, stated in their research note that they expect to see ARRY reach a price target of $15, previously predicting the price at $17. The rating they have provided for ARRY stocks is “Underweight” according to the report published on August 18th, 2022.

Barclays gave a rating of “Overweight” to ARRY, setting the target price at $20 in the report published on August 05th of the current year.

ARRY Trading at 3.89% from the 50-Day Moving Average

After a stumble in the market that brought ARRY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -33.21% of loss for the given period.

Volatility was left at 8.04%, however, over the last 30 days, the volatility rate increased by 6.51%, as shares sank -12.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +47.72% upper at present.

During the last 5 trading sessions, ARRY fell by -9.99%, which changed the moving average for the period of 200-days by +4.70% in comparison to the 20-day moving average, which settled at $20.56. In addition, Array Technologies Inc. saw 17.78% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at ARRY starting from Schmid Gerrard, who purchase 7,000 shares at the price of $21.66 back on Aug 26. After this action, Schmid Gerrard now owns 41,269 shares of Array Technologies Inc., valued at $151,650 using the latest closing price.

Patel Nipul M., the Chief Financial Officer of Array Technologies Inc., purchase 4,560 shares at $21.95 during a trade that took place back on Aug 16, which means that Patel Nipul M. is holding 108,629 shares at $100,092 based on the most recent closing price.

Stock Fundamentals for ARRY

Current profitability levels for the company are sitting at:

  • -2.58 for the present operating margin
  • +6.91 for the gross margin

The net margin for Array Technologies Inc. stands at -5.91. Equity return is now at value -425.50, with -8.40 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 3.47.

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