In yesterday’s Wall Street session, Array Technologies Inc (NASDAQ:ARRY) shares traded at $12.51, unchanged from the previous session.
ARRY stock price is now -4.19% away from the 50-day moving average and -25.51% away from the 200-day moving average. The market capitalization of the company currently stands at $1.90B.
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With the price target enhanced from $15 to $18, Barclays Upgraded its rating from Equal Weight to Overweight for Array Technologies Inc (NASDAQ: ARRY). On March 22, 2024, BMO Capital Markets recently initiated its ‘Market Perform’ rating on the stock quoting a target price of $16, while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’
In other news, Hostetler Kevin G., Chief Executive Officer sold 8,176 shares of the company’s stock on Mar 20 ’24. The stock was sold for $100,565 at an average price of $12.30. Upon completion of the transaction, the Chief Executive Officer now directly owns 217,352 shares in the company, valued at $2.72 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 01 ’23, Chief Legal Officer Hottinger Tyson sold 7,500 shares of the business’s stock. A total of $187,825 was realized by selling the stock at an average price of $25.04. This leaves the insider owning 69,618 shares of the company worth $0.87 million. A total of 1.71% of the company’s stock is owned by insiders.
During the past 12 months, Array Technologies Inc has had a low of $10.82 and a high of $26.64. As of last week, the company has a debt-to-equity ratio of 1.16, a current ratio of 2.48, and a quick ratio of 2.00.
According to the Solar Company, earnings per share came in at 0.25, beating analysts’ expectations of 0.03 by 0.22. This compares to -$0.03 EPS in the same period last year. The net profit margin was 5.19% and return on equity was 25.81% for ARRY. The company reported revenue of $341.62 million for the quarter, compared to $402.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.04 percent. For the current quarter, analysts expect ARRY to generate $140.11M in revenue.
