The stock price of Array Technologies Inc (NASDAQ: ARRY) has plunged by -10.22 when compared to previous closing price of 7.63, but the company has seen a 13.41% gain in its stock price over the last five trading sessions. seekingalpha.com reported 2024-11-07 that Array Technologies, Inc. (NASDAQ:ARRY ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Sarah Sheppard – IR Kevin Hostetler – CEO Neil Manning – President and COO Kurt Wood – CFO James Zhu – CAO Conference Call Participants Julien Dumoulin-Smith – Jefferies Brian Lee – Goldman Sachs Jordan Levy – Truist Securities Jon Windham – UBS Philip Shen – ROTH Capital Partners Dimple Gosai – Bank of America Joe Osha – Guggenheim Partners Vikram Bagri – Citigroup Kashy Harrison – Piper Sandler Colin Rusch – Oppenheimer Derek Soderberg – Cantor Fitzgerald Operator Greetings and welcome to Array Technologies’ Third Quarter 2024 Earnings Call. At this time, all participants are in a listen-only.
Is It Worth Investing in Array Technologies Inc (NASDAQ: ARRY) Right Now?
The 36-month beta value for ARRY is at 1.65. Analysts have varying views on the stock, with 12 analysts rating it as a “buy,” 3 rating it as “overweight,” 11 as “hold,” and 0 as “sell.”
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The public float for ARRY is 149.41M, and currently, shorts hold a 19.85% of that float. The average trading volume for ARRY on November 18, 2024 was 6.54M shares.
ARRY’s Market Performance
ARRY’s stock has seen a 13.41% increase for the week, with a 2.54% rise in the past month and a 2.39% gain in the past quarter. The volatility ratio for the week is 12.66%, and the volatility levels for the past 30 days are at 8.51% for Array Technologies Inc The simple moving average for the past 20 days is 3.37% for ARRY’s stock, with a -34.24% 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 $10 based on the research report published on November 08, 2024 of the current year 2024.
BofA Securities gave a rating of “Neutral” to ARRY, setting the target price at $7 in the report published on November 07th of the current year.
ARRY Trading at 3.62% 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 -66.00% of loss for the given period.
Volatility was left at 8.51%, however, over the last 30 days, the volatility rate increased by 12.66%, as shares surge +0.59% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.37% upper at present.
During the last 5 trading sessions, ARRY rose by +13.41%, which changed the moving average for the period of 200-days by -50.07% in comparison to the 20-day moving average, which settled at $6.63. In addition, Array Technologies Inc saw -59.23% 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 Hottinger Tyson, who proposed sale 31,853 shares at the price of $6.28 back on Nov 12 ’24. After this action, Hottinger Tyson now owns shares of Array Technologies Inc, valued at $200,103 using the latest closing price.
Hostetler Kevin G., the Chief Executive Officer of Array Technologies Inc, sale 8,176 shares at $12.30 during a trade that took place back on Mar 20 ’24, which means that Hostetler Kevin G. is holding 217,352 shares at $100,565 based on the most recent closing price.
Stock Fundamentals for ARRY
Current profitability levels for the company are sitting at:
- -0.05 for the present operating margin
- 0.28 for the gross margin
The net margin for Array Technologies Inc stands at -0.09. The total capital return value is set at -0.05. Equity return is now at value -17.54, with -5.63 for asset returns.
Based on Array Technologies Inc (ARRY), the company’s capital structure generated 0.6 points at debt to capital in total, while cash flow to debt ratio is standing at 0.28. The debt to equity ratio resting at 1.48. The interest coverage ratio of the stock is -1.56.
Currently, EBITDA for the company is 271.91 million with net debt to EBITDA at -23.37. When we switch over and look at the enterprise to sales, we see a ratio of 1.41. The receivables turnover for the company is 3.48for trailing twelve months and the total asset turnover is 0.63. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.41.
Conclusion
In conclusion, Array Technologies Inc (ARRY) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
