Array Technologies Inc. [NASDAQ: ARRY] closed the trading session at $40.60 on 12/01/20. The day’s price range saw the stock hit a low of $40.27, while the highest price level was $43.35. The company report on December 1, 2020 that Array Technologies, Inc. Announces Launch of Secondary Offering of 25 Million Shares.
Array Technologies, Inc. (NASDAQ: ARRY) announced that a parent entity of the Company controlled by Oaktree Capital (the “Selling Stockholder”) has commenced an underwritten public offering of 25,000,000 shares of the Company’s common stock pursuant to a registration statement filed with the Securities and Exchange Commission. Additionally, the Selling Stockholder intends to grant the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of the Company’s common stock. The Company’s common stock is listed on the Nasdaq Global Market under the symbol “ARRY.”.
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The Company will not receive any of the proceeds from the sale of shares offered by the Selling Stockholder.
If compared to the average trading volume of 3.21M shares, ARRY reached to a volume of 2216084 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 4.09, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 5.66. The Price to Book ratio for the last quarter was 12.91, with the Price to Cash per share for the same quarter was set at 0.21.
ARRY stock trade performance evaluation
Array Technologies Inc. [ARRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.98.
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 42.54, and the three-weeks RSI is set at 51.33 for Array Technologies Inc. [ARRY], while it was recorded at 45.38 for the last single week of trading.
Array Technologies Inc. [ARRY]: An insightful look at the core 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 1.80.
Earnings per share (EPS) analysis for Array Technologies Inc. [ARRY] stock
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%.