Array Technologies Inc. [ARRY] is -56.53% lower this YTD. Is it still time to buy?

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Array Technologies Inc. [NASDAQ: ARRY] stock went on a downward path that fall over -4.35% on Tuesday, amounting to a one-week price decrease of less than -25.38%. The company report on April 25, 2022 that Array Technologies Statement on U.S. Department of Commerce Antidumping and Countervailing Duties Inquiry.

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Growth of solar energy needs stable regulatory and incentive environment so that the industry can make long term commitments to funding and capital.

Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”) is disappointed by the U.S. Department of Commerce’s decision to investigate an allegation of tariff circumvention on solar modules. It is our belief that this request has no merit and does not meet the criteria for such a petition, as defined by the Department of Commerce. This action will undermine momentum with current solar energy developments and the mere disclosure of this trade review has galvanized industry-wide agreement on the negative impact to current and future projects, long-term supply-chain disruptions, and increased price volatility.

Over the last 12 months, ARRY stock dropped by -77.73%. The one-year Array Technologies Inc. stock forecast points to a potential upside of 63.53. The average equity rating for ARRY stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.24 billion, with 133.90 million shares outstanding and 125.91 million shares in the current float. Compared to the average trading volume of 4.48M shares, ARRY stock reached a trading volume of 5337309 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $18.70 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.

Guggenheim have made an estimate for Array Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 06, 2022. While these analysts kept the previous recommendation, Truist dropped their target price from $27 to $14. The new note on the price target was released on January 24, 2022, representing the official price target for Array Technologies Inc. stock.

The Average True Range (ATR) for Array Technologies Inc. is set at 0.90, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.45.

ARRY Stock Performance Analysis:

Array Technologies Inc. [ARRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.38. With this latest performance, ARRY shares dropped by -47.78% in over the last four-week period, additionally sinking by -62.53% over the last 6 months – not to mention a drop of -77.73% 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 29.19, with the RSI for the last a single of trading hit 23.30, and the three-weeks RSI is set at 33.51 for Array Technologies Inc. [ARRY]. The present Moving Average for the last 50 days of trading for this stock 10.30, while it was recorded at 7.37 for the last single week of trading, and 15.27 for the last 200 days.

Insight into Array Technologies Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Array Technologies Inc. [ARRY] shares currently have an operating margin of -2.58 and a Gross Margin at +6.91. Array Technologies Inc.’s Net Margin is presently recorded at -5.91.

Return on Equity for this stock declined to -115.39, with Return on Assets sitting at -5.53.

Array Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 3.50.

ARRY Stock EPS

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%.

Array Technologies Inc. [ARRY] Insider Position Details

There are presently around $1,033 million, or 97.80% of ARRY stock, in the hands of institutional investors. The top three institutional holders of ARRY stocks are: FMR LLC with ownership of 16,931,221, which is approximately 12.263% of the company’s market cap and around 0.30% of the total institutional ownership; BLACKROCK INC., holding 12,892,595 shares of the stock with an approximate value of $91.92 million in ARRY stocks shares; and VANGUARD GROUP INC, currently with $82.61 million in ARRY stock with ownership of nearly 5.316% of the company’s market capitalization.

125 institutional holders increased their position in Array Technologies Inc. [NASDAQ:ARRY] by around 29,750,524 shares. Additionally, 90 investors decreased positions by around 19,528,511 shares, while 23 investors held positions by with 95,532,496 shares. The mentioned changes placed institutional holdings at 144,811,531 shares, according to the latest SEC report filing. ARRY stock had 51 new institutional investments in for a total of 5,919,437 shares, while 30 institutional investors sold positions of 4,037,686 shares during the same period.