Array Technologies Inc. [ARRY] stock Initiated by Colliers Securities analyst, price target now $23



Array Technologies Inc. [NASDAQ: ARRY] loss -5.47% or -0.78 points to close at $13.47 with a heavy trading volume of 2385897 shares. The company report on January 11, 2022 that Array Technologies Completes Acquisition of STI Norland.

Establishes Array as Global Leader in Solar Trackers with Leading Positions in North America, Latin America and Europe.

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Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, today announced it has completed its previously announced acquisition of Soluciones Técnicas Integrales Norland, S.L. (“STI Norland”), one of Europe’s leading manufacturers of solar trackers. The transaction creates the largest solar tracker company in the world with manufacturing capacity and design and engineering resources on three continents, and establishes Array as a leader in the rapidly growing Brazilian solar market.

It opened the trading session at $14.36, the shares rose to $14.46 and dropped to $13.44, the range by which the price of stock traded the whole day. The daily chart for ARRY points out that the company has recorded -0.52% loss over the past six months. However, it is still -5.9% lower than its most recent low trading price.

If we look at the average trading volume of 2.99M shares, ARRY reached to a volume of 2385897 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $26.45 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 2.30. 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.

Colliers Securities have made an estimate for Array Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2021. The new note on the price target was released on October 20, 2021, representing the official price target for Array Technologies Inc. stock. Previously, the target price had yet another raise to $23, while Truist analysts kept a Hold rating on ARRY stock.

The Average True Range (ATR) for Array Technologies Inc. is set at 0.98, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 2.17. The Price to Book ratio for the last quarter was 224.50, with the Price to Cash per share for the same quarter was set at 0.88.

Trading performance analysis for ARRY stock

Array Technologies Inc. [ARRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.67. With this latest performance, ARRY shares dropped by -23.03% in over the last four-week period, additionally sinking by -0.52% over the last 6 months – not to mention a drop of -72.20% in the past year of trading.

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 current RSI for ARRY stock in for the last two-week period is set at 29.93, with the RSI for the last a single of trading hit 26.28, and the three-weeks RSI is set at 33.76 for Array Technologies Inc. [ARRY]. The present Moving Average for the last 50 days of trading for this stock 18.86, while it was recorded at 14.05 for the last single week of trading, and 18.86 for the last 200 days.

Array Technologies Inc. [ARRY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Array Technologies Inc. [ARRY] shares currently have an operating margin of +14.16 and a Gross Margin at +20.32. Array Technologies Inc.’s Net Margin is presently recorded at +6.77.

Return on Total Capital for ARRY is now 32.95, given the latest momentum, and Return on Invested Capital for the company is 18.23. Return on Equity for this stock inclined to 52.68, with Return on Assets sitting at 7.46. Additionally, ARRY Total Debt to Total Capital is recorded at 123.29, with Total Debt to Total Assets ending up at 64.84.

Reflecting on the efficiency of the workforce at the company, Array Technologies Inc. [ARRY] managed to generate an average of $151,859 per employee. Receivables Turnover for the company is 7.50 with a Total Asset Turnover recorded at a value of 1.10.Array Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.30.

Array Technologies Inc. [ARRY]: An earnings per share (EPS) analysis

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 -5.58%.

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An analysis of insider ownership at Array Technologies Inc. [ARRY]

There are presently around $1,803 million, in the hands of institutional investors. The top three institutional holders of ARRY stocks are: FMR LLC with ownership of 15,081,694, which is approximately 56.384% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 11,001,809 shares of the stock with an approximate value of $148.19 million in ARRY stocks shares; and BLACKROCK INC., currently with $140.94 million in ARRY stock with ownership of nearly 26.625% of the company’s market capitalization.

Positions in Array Technologies Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 110 institutional holders increased their position in Array Technologies Inc. [NASDAQ:ARRY] by around 42,064,335 shares. Additionally, 93 investors decreased positions by around 23,084,319 shares, while 21 investors held positions by with 68,736,394 shares. The mentioned changes placed institutional holdings at 133,885,048 shares, according to the latest SEC report filing. ARRY stock had 41 new institutional investments in for a total of 20,561,091 shares, while 42 institutional investors sold positions of 5,862,069 shares during the same period.