The price of Array Technologies Inc (NASDAQ:ARRY) shares last traded on Wall Street rose 4.38% to $6.44.
ARRY stock price is now -2.35% away from the 50-day moving average and -41.04% away from the 200-day moving average. The market capitalization of the company currently stands at $978.43M.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
On August 09, 2024, TD Cowen reiterated its ‘Hold’ rating on the stock by increasing its target price from $16.50 to quote $11.50, while ‘ROTH MKM’ rates the stock as ‘Neutral’
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 $1.4 million. A total of 1.66% of the company’s stock is owned by insiders.
During the past 12 months, Array Technologies Inc has had a low of $5.56 and a high of $20.15. As of last week, the company has a debt-to-equity ratio of 1.18, a current ratio of 2.51, and a quick ratio of 2.02. According to the stock market information, the enterprise value for the company is $1773954176, which is based on a 58.76 price-to-earnings ratio, a 5.93 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for ARRY is $6.595 and a two-hundred day moving average price translates $10.922225 for the stock.
The latest earnings results from Array Technologies Inc (NASDAQ: ARRY) was released for 2024-06-30. The net profit margin was 1.52% and return on equity was 11.83% for ARRY. The company reported revenue of $255.77 million for the quarter, compared to $507.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -49.63 percent.
