Array Technologies Inc (NASDAQ: ARRY) has a price-to-earnings ratio that is above its average at 58.12x. The stock has a 36-month beta value of 1.62. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 3 as “overweight,” 1 as “hold,” and 0 as “sell.”
The public float for ARRY is 149.30M, and at present, short sellers hold a 19.48% of that float. On September 24, 2024, the average trading volume of ARRY was 6.12M shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
ARRY) stock’s latest price update
Array Technologies Inc (NASDAQ: ARRY)’s stock price has decreased by -0.62 compared to its previous closing price of 6.41. However, the company has seen a -8.74% decrease in its stock price over the last five trading sessions. zacks.com reported 2024-09-13 that Solar stocks have seen quite a rebound this week following Tuesday’s presidential debate in which democratic nominee Kamala Harris emphasized building out alternative energy assets.
ARRY’s Market Performance
Array Technologies Inc (ARRY) has experienced a -8.74% fall in stock performance for the past week, with a -2.90% drop in the past month, and a -41.88% drop in the past quarter. The volatility ratio for the week is 7.27%, and the volatility levels for the past 30 days are at 7.08% for ARRY. The simple moving average for the past 20 days is -3.85% for ARRY’s stock, with a -47.77% simple moving average for the past 200 days.
Analysts’ Opinion of ARRY
Many brokerage firms have already submitted their reports for ARRY stocks, with Jefferies repeating the rating for ARRY by listing it as a “Buy.” The predicted price for ARRY in the upcoming period, according to Jefferies is $11 based on the research report published on September 04, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see ARRY reach a price target of $11.50, previously predicting the price at $16.50. The rating they have provided for ARRY stocks is “Hold” according to the report published on August 09th, 2024.
ROTH MKM gave a rating of “Neutral” to ARRY, setting the target price at $8 in the report published on August 09th of the current year.
ARRY Trading at -22.09% 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 -74.66% of loss for the given period.
Volatility was left at 7.08%, however, over the last 30 days, the volatility rate increased by 7.27%, as shares sank -7.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -45.83% lower at present.
During the last 5 trading sessions, ARRY fell by -8.74%, which changed the moving average for the period of 200-days by -60.48% in comparison to the 20-day moving average, which settled at $6.60. In addition, Array Technologies Inc saw -62.08% 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.
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 3.01.
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 1.24. 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
To sum up, Array Technologies Inc (ARRY) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing 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.
