In yesterday’s Wall Street session, Array Technologies Inc (NASDAQ:ARRY) shares traded at $7.61, up 1.33% from the previous session.
ARRY stock price is now 15.04% away from the 50-day moving average and -28.79% away from the 200-day moving average. The market capitalization of the company currently stands at $1.16B.
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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 $1.65 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 $1951708160, which is based on a 69.43 price-to-earnings ratio, a 7.01 price-to-earnings-growth ratio, and a beta of 1.59. The fifty day moving average price for ARRY is $6.6006 and a two-hundred day moving average price translates $10.714325 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. For the current quarter, analysts expect ARRY to generate $232.61M in revenue.
