The price-to-earnings ratio for Array Technologies Inc (NASDAQ: ARRY) is above average at 25.02x, Company’s 36-month beta value is 1.69.Analysts have differing opinions on the stock, with 5 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for ARRY is 149.14M, and currently, short sellers hold a 17.86% ratio of that floaft. The average trading volume of ARRY on May 06, 2024 was 5.72M shares.
ARRY) stock’s latest price update
Array Technologies Inc (NASDAQ: ARRY)’s stock price has increased by 3.06 compared to its previous closing price of 13.06. However, the company has seen a 8.55% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-30 that Investors with an interest in Solar stocks have likely encountered both Array Technologies, Inc. (ARRY) and Enphase Energy (ENPH). But which of these two stocks is more attractive to value investors?
ARRY’s Market Performance
Array Technologies Inc (ARRY) has experienced a 8.55% rise in stock performance for the past week, with a -5.61% drop in the past month, and a -1.61% drop in the past quarter. The volatility ratio for the week is 5.47%, and the volatility levels for the past 30 days are at 5.90% for ARRY. The simple moving average for the last 20 days is 7.14% for ARRY stock, with a simple moving average of -20.42% for the last 200 days.
Analysts’ Opinion of ARRY
Many brokerage firms have already submitted their reports for ARRY stocks, with Barclays repeating the rating for ARRY by listing it as a “Overweight.” The predicted price for ARRY in the upcoming period, according to Barclays is $18 based on the research report published on April 02, 2024 of the current year 2024.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see ARRY reach a price target of $16. The rating they have provided for ARRY stocks is “Market Perform” according to the report published on March 22nd, 2024.
ARRY Trading at 3.01% 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 -49.47% of loss for the given period.
Volatility was left at 5.90%, however, over the last 30 days, the volatility rate increased by 5.47%, as shares sank -2.46% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.20% upper at present.
During the last 5 trading sessions, ARRY rose by +8.55%, which changed the moving average for the period of 200-days by -30.97% in comparison to the 20-day moving average, which settled at $12.55. In addition, Array Technologies Inc saw -19.88% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ARRY starting from Hostetler Kevin G., who sale 8,176 shares at the price of $12.30 back on Mar 20 ’24. After this action, Hostetler Kevin G. now owns 217,352 shares of Array Technologies Inc, valued at $100,565 using the latest closing price.
Hottinger Tyson, the Chief Legal Officer of Array Technologies Inc, sale 7,500 shares at $25.04 during a trade that took place back on Sep 01 ’23, which means that Hottinger Tyson is holding 69,618 shares at $187,825 based on the most recent closing price.
Stock Fundamentals for ARRY
Current profitability levels for the company are sitting at:
- 0.14 for the present operating margin
- 0.26 for the gross margin
The net margin for Array Technologies Inc stands at 0.09. The total capital return value is set at 0.16. Equity return is now at value 25.81, with 7.82 for asset returns.
Based on Array Technologies Inc (ARRY), the company’s capital structure generated 0.53 points at debt to capital in total, while cash flow to debt ratio is standing at 0.34. The debt to equity ratio resting at 1.13. The interest coverage ratio of the stock is 5.17.
Currently, EBITDA for the company is 271.91 million with net debt to EBITDA at 1.69. When we switch over and look at the enterprise to sales, we see a ratio of 1.59. The receivables turnover for the company is 4.75for trailing twelve months and the total asset turnover is 0.92. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.48.
Conclusion
In a nutshell, Array Technologies Inc (ARRY) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
