Array Technologies Inc (NASDAQ: ARRY) has experienced a rise in its stock price by 6.00 compared to its previous closing price of 6.92. However, the company has seen a gain of 9.64% in its stock price over the last five trading days. benzinga.com reported 2024-08-19 that The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.
Is It Worth Investing in Array Technologies Inc (NASDAQ: ARRY) Right Now?
The price-to-earnings ratio for Array Technologies Inc (NASDAQ: ARRY) is above average at 66.93x. The 36-month beta value for ARRY is also noteworthy at 1.63. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 3 rating it as “overweight,” 1 rating it as “hold,” and 0 rating it as “sell.”
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The public float for ARRY is 149.30M, and at present, short sellers hold a 14.64% of that float. The average trading volume of ARRY on August 26, 2024 was 5.69M shares.
ARRY’s Market Performance
The stock of Array Technologies Inc (ARRY) has seen a 9.64% increase in the past week, with a -34.63% drop in the past month, and a -46.03% fall in the past quarter. The volatility ratio for the week is 5.69%, and the volatility levels for the past 30 days are at 7.26% for ARRY. The simple moving average for the past 20 days is -8.81% for ARRY’s stock, with a -43.66% simple moving average for the past 200 days.
Analysts’ Opinion of ARRY
Many brokerage firms have already submitted their reports for ARRY stocks, with TD Cowen repeating the rating for ARRY by listing it as a “Hold.” The predicted price for ARRY in the upcoming period, according to TD Cowen is $11.50 based on the research report published on August 09, 2024 of the current year 2024.
ROTH MKM, on the other hand, stated in their research note that they expect to see ARRY reach a price target of $8, previously predicting the price at $20. The rating they have provided for ARRY stocks is “Neutral” according to the report published on August 09th, 2024.
Citigroup gave a rating of “Buy” to ARRY, setting the target price at $14 in the report published on July 12th of the current year.
ARRY Trading at -25.02% 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 -72.47% of loss for the given period.
Volatility was left at 7.26%, however, over the last 30 days, the volatility rate increased by 5.69%, as shares sank -30.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -42.99% lower at present.
During the last 5 trading sessions, ARRY rose by +10.61%, which changed the moving average for the period of 200-days by -59.39% in comparison to the 20-day moving average, which settled at $7.88. In addition, Array Technologies Inc saw -56.34% 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:
- 0.11 for the present operating margin
- 0.26 for the gross margin
The net margin for Array Technologies Inc stands at 0.07. The total capital return value is set at 0.09. Equity return is now at value 11.83, with 4.02 for asset returns.
Based on Array Technologies Inc (ARRY), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.32. The debt to equity ratio resting at 1.18. The interest coverage ratio of the stock is 5.35.
Currently, EBITDA for the company is 271.91 million with net debt to EBITDA at 2.31. When we switch over and look at the enterprise to sales, we see a ratio of 1.36. The receivables turnover for the company is 3.0for trailing twelve months and the total asset turnover is 0.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.51.
Conclusion
In summary, Array Technologies Inc (ARRY) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. 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.
