Array Technologies Inc (NASDAQ: ARRY) has a higher price-to-earnings ratio of 65.33x compared to its average ratio. ARRY has 36-month beta value of 1.62. Analysts have mixed views 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 149.30M, and currently, short sellers hold a 21.81% ratio of that float. The average trading volume of ARRY on October 14, 2024 was 5.84M shares.
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ARRY) stock’s latest price update
Array Technologies Inc (NASDAQ: ARRY)’s stock price has soared by 9.82 in relation to previous closing price of 6.52. Nevertheless, the company has seen a gain of 11.01% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-08 that Array Technologies, noted for its expertise in integrated solar tracking solutions, has seen its share price get decimated this year by over 60%. ARRY’s long-term prospects remain strong despite short-term challenges, with the US solar capacity expected to grow significantly, with 737GW of new capacity expected to come on board through 2035. ARRY offers a more compelling FCF yield than close peer NXT, whilst its superior medium-term earnings growth trajectory makes its P/E multiple look very attractive.
ARRY’s Market Performance
Array Technologies Inc (ARRY) has experienced a 11.01% rise in stock performance for the past week, with a 7.19% rise in the past month, and a -35.67% drop in the past quarter. The volatility ratio for the week is 7.69%, and the volatility levels for the past 30 days are at 6.44% for ARRY. The simple moving average for the last 20 days is 8.44% for ARRY’s stock, with a simple moving average of -37.14% for the last 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 4.51% 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 -66.93% of loss for the given period.
Volatility was left at 6.44%, however, over the last 30 days, the volatility rate increased by 7.69%, as shares surge +4.99% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -30.42% lower at present.
During the last 5 trading sessions, ARRY rose by +11.01%, which changed the moving average for the period of 200-days by -58.78% in comparison to the 20-day moving average, which settled at $6.60. In addition, Array Technologies Inc saw -57.38% 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 1.35. 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 put it simply, Array Technologies Inc (ARRY) has had a mixed performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
