Array Technologies Inc. [NASDAQ: ARRY] traded at a low on 05/10/22, posting a -5.34 loss after which it closed the day’ session at $6.92. The company report on May 10, 2022 that Array Technologies, Inc. Reports Financial Results for the First Quarter 2022 – Delivers strong top-line growth, a robust backlog and continued margin progression in the legacy Array business.
First Quarter 2022 Highlights.
The results of the trading session contributed to over 9733728 shares changing hands. Over the past one week, the price volatility of Array Technologies Inc. stands at 14.33% while the volatility over the past one month is 11.15%.
The market cap for ARRY stock reached $1.07 billion, with 133.90 million shares outstanding and 125.91 million shares in the current float. Compared to the average trading volume of 4.67M shares, ARRY reached a trading volume of 9733728 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 $18.60 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.
Truist have made an estimate for Array Technologies Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 02, 2022. The new note on the price target was released on April 06, 2022, representing the official price target for Array Technologies Inc. stock. Previously, the target price had yet another drop from $27 to $14, while Truist kept a Hold rating on ARRY stock.
The Average True Range (ATR) for Array Technologies Inc. is set at 0.99, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.26.
How has ARRY stock performed recently?
Array Technologies Inc. [ARRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.02. With this latest performance, ARRY shares dropped by -25.43% in over the last four-week period, additionally sinking by -68.36% over the last 6 months – not to mention a drop of -72.26% 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 38.12, with the RSI for the last a single of trading hit 36.67, and the three-weeks RSI is set at 39.28 for Array Technologies Inc. [ARRY]. The present Moving Average for the last 50 days of trading for this stock 9.94, while it was recorded at 8.30 for the last single week of trading, and 14.96 for the last 200 days.
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 -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.
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 -5.58%.
Insider trade positions for Array Technologies Inc. [ARRY]
There are presently around $1,060 million, or 98.80% 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 0.40% of the total institutional ownership; BLACKROCK INC., holding 12,892,595 shares of the stock with an approximate value of $94.25 million in ARRY stocks shares; and VANGUARD GROUP INC, currently with $84.7 million in ARRY stock with ownership of nearly 5.316% of the company’s market capitalization.
Positions in Array Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 134 institutional holders increased their position in Array Technologies Inc. [NASDAQ:ARRY] by around 27,778,053 shares. Additionally, 82 investors decreased positions by around 19,783,174 shares, while 21 investors held positions by with 97,454,592 shares. The mentioned changes placed institutional holdings at 145,015,819 shares, according to the latest SEC report filing. ARRY stock had 54 new institutional investments in for a total of 6,271,784 shares, while 26 institutional investors sold positions of 4,252,021 shares during the same period.