Array Technologies Inc. [NASDAQ: ARRY] traded at a high on 11/18/20, posting a 4.79 gain after which it closed the day’ session at $41.97. The company report on November 10, 2020 that Lightsource bp announces a 1.4GW global purchase agreement with Array Technologies.
Advanced Solar Tracker Technology + Software to be deployed across Lightsource bp’s newly developed worldwide solar portfolio.
Lightsource bp has entered into a purchase agreement with Array Technologies (NASDAQ:ARRY) that will supply Lightsource bp’s newly developed solar portfolio of 1.4GW across the world with DuraTrack® HZ v3 single-axis solar trackers equipped with plant optimizing SmarTrack™ technology.
The results of the trading session contributed to over 1852915 shares changing hands. Over the past one week, the price volatility of Array Technologies Inc. stands at 6.53% while the volatility over the past one month is 10.43%.
The market cap for ARRY stock reached $5.21 billion, with 124.22 million shares outstanding and 121.51 million shares in the current float. Compared to the average trading volume of 3.95M shares, ARRY reached a trading volume of 1852915 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $43.81 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 2.80. 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.
UBS have made an estimate for Array Technologies Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 09, 2020. The new note on the price target was released on November 09, 2020, representing the official price target for Array Technologies Inc. stock. Previously, the target price had yet another raise to $37, while Morgan Stanley analysts kept a Underweight rating on ARRY stock.
The Average True Range (ATR) for Array Technologies Inc. is set at 4.00, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 5.69. The Price to Book ratio for the last quarter was 13.35, with the Price to Cash per share for the same quarter was set at 0.15.
How has ARRY stock performed recently?
Array Technologies Inc. [ARRY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.18.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 61.35, and the three-weeks RSI is set at 57.82 for Array Technologies Inc. [ARRY], while it was recorded at 39.49 for the last single week of trading.
Array Technologies Inc. [ARRY]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Array Technologies Inc. [ARRY] shares currently have an operating margin of +13.39 and a Gross Margin at +19.33. Array Technologies Inc.’s Net Margin is presently recorded at +6.13.
Return on Total Capital for ARRY is now 23.89, given the latest momentum, and Return on Invested Capital for the company is 13.95. Return on Equity for this stock inclined to 13.95, with Return on Assets sitting at 5.55. When it comes to the capital structure of this company, Array Technologies Inc. [ARRY] has a Total Debt to Total Equity ratio set at 32.03. Additionally, ARRY Total Debt to Total Capital is recorded at 24.26, with Total Debt to Total Assets ending up at 10.58.
Receivables Turnover for the company is 8.15 with a Total Asset Turnover recorded at a value of 0.90.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.
Earnings analysis for Array Technologies Inc. [ARRY]
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 19.83%.