Wednesday, November 25, 2020

Market cap of Array Technologies Inc. [ARRY] reaches 4.63B – now what?

Must read

Unity Software (U) Stock Added 7% Last Week After Positive Quarterly Results

The stock of the game engine developer Unity Software Inc. (U) rose 5.58 percent on Friday to conclude the week at $122.80. An optimistic report...

Teledyne Technologies (TDY) Stock Just Missed Its 52-Week High On Wednesday

The American technology corporation Teledyne Technologies Incorporated (TDY) has won a contract of $85 million to supply components for the U.S. lunar program. As a...

Oil And Gold Drooped On Thursday, Markets Stimulates On Budget Support Plan

On Thursday, WTI oil dropped 0.2% to $41.74, while gold dropped 0.7% to $1,861.50 an ounce. Domestic oil inventories for the week ended November...

Tesla, Inc. (TSLA) Joins S&P 500;Morgan Stanley Raises EV giant Price Target

Wall Street analyst goes bullish on Musk’s EV maker as they see high-margin in firm’s potential software and services segment. Moreover, Tesla’s inclusion in...

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.


Daily trading lessons right to your inbox

Get 12 free stock market lessons delivered to your email from Investor's Business Daily, the leader in investing education for over 35 years. We’ll cover the basics of better investing and show you how to give yourself an edge in the market.

GET FREE LESSON outside the norm.

Sponsored


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%.

Get The Best Stocks To Trade Every Day!

Join now to get the DBTnews.com pre-market morning brief 100% free

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

NVIDIA (NVDA) Stock Lost After Q3 Results, Record Revenues Did Not Help

The graphics chip (GPU) manufacturer NVIDIA Corp. (NVDA) issued its report for the third quarter of the fiscal year 2021 after the close of...

U.S. Indices Started The Week Well, Oil Sector Also Gained

On the back of growing market operation and the results of testing another vaccine, our indexes rose Key-U.S. indices closed in the green zone on...

Unity Software (U) Stock Added 7% Last Week After Positive Quarterly Results

The stock of the game engine developer Unity Software Inc. (U) rose 5.58 percent on Friday to conclude the week at $122.80. An optimistic report...

Oil And Gold Drooped On Thursday, Markets Stimulates On Budget Support Plan

On Thursday, WTI oil dropped 0.2% to $41.74, while gold dropped 0.7% to $1,861.50 an ounce. Domestic oil inventories for the week ended November...

Tesla, Inc. (TSLA) Joins S&P 500;Morgan Stanley Raises EV giant Price Target

Wall Street analyst goes bullish on Musk’s EV maker as they see high-margin in firm’s potential software and services segment. Moreover, Tesla’s inclusion in...

Get The Best Stocks To Trade Every Day!

Join now to get the DBTnews.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the DBTNews.com pre-market morning brief 100% free

We do not sell or share your information with anyone.