Array Technologies Inc. [NASDAQ: ARRY] price plunged by 0.00 percent to reach at $0.0. The company report on October 20, 2020 that Array Technologies, Inc. Announces Closing of Initial Public Offering.
Array Technologies, Inc. today announced the closing of its upsized initial public offering of 54,625,000 shares of common stock. The offering consisted of 7,000,000 shares of common stock issued and sold by the Company and 47,625,000 shares of common stock sold by a parent entity of the Company controlled by Oaktree Capital (the “Selling Stockholder”), which included an additional 7,125,000 shares of the Company’s common stock following the exercise in full of the underwriters’ option to purchase additional shares of the Company’s common stock from the Selling Stockholder, in each case at an initial public offering price of $22.00 per share. The Company did not receive any of the proceeds from the sale of shares offered by the Selling Stockholder. The common stock began trading on the Nasdaq Global Market under the symbol “ARRY” on October 15, 2020.
Goldman Sachs & Co. LLC and J.P. Morgan acted as joint book-running managers and representatives of the underwriters for the offering. Guggenheim Securities and Morgan Stanley acted as joint book-running managers and Credit Suisse, Barclays and UBS Investment Bank acted as book-runners. Cowen, Oppenheimer & Co. Inc., MUFG and Nomura acted as co-managers.
A sum of 3533755 shares traded at recent session while its average daily volume was at 23.11M shares. Array Technologies Inc. shares reached a high of $40.50 and dropped to a low of $38.48 until finishing in the latest session at $38.95.
The one-year ARRY stock forecast points to a potential upside of 12.06. The average equity rating for ARRY stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Array Technologies Inc. [ARRY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARRY shares is $44.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARRY stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
The Average True Range (ATR) for Array Technologies Inc. is set at 5.27, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 4.75.
ARRY Stock Performance Analysis:
Insight into Array Technologies Inc. Fundamentals:
Array Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.90.
ARRY Stock EPS
With the latest financial reports released by the company, Array Technologies Inc. posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARRY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Array Technologies Inc. go to 10.00%.