Array Technologies Inc. [ARRY] Stock trading around $23.28 per share: What’s Next?

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Array Technologies Inc. [NASDAQ: ARRY] closed the trading session at $23.28 on 08/28/23. The day’s price range saw the stock hit a low of $22.605, while the highest price level was $23.48. The company report on August 28, 2023 at 8:30 AM that Array Technologies Leads Solar Tracker Industry with Highest US Domestic Content Sourcing.

Array’s dedication to domestic manufacturing is evidenced by its collaborations with long-standing U.S. manufacturers, bolstering its domestic content offerings. Partnering with U.S. manufacturers that have a proven track record with Array not only assures timely delivery but also minimizes potential quality risks, thus lowering risk for its valued customers.

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The stocks have a year to date performance of 20.43 percent and weekly performance of 12.25 percent. The stock has been moved at 23.63 percent over the last six months. The stock has performed 22.14 percent around the most recent 30 days and changed 1.09 percent over the most recent 3-months.

If compared to the average trading volume of 4.46M shares, ARRY reached to a volume of 5127934 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 $29.64 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 2.00. 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.

Janney have made an estimate for Array Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 28, 2023.

The Average True Range (ATR) for Array Technologies Inc. is set at 1.15, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.87. The Price to Book ratio for the last quarter was 12.25, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for ARRY in the course of the last twelve months was 13.35 with Quick ratio for the last quarter at 1.60.

ARRY stock trade performance evaluation

Array Technologies Inc. [ARRY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.25. With this latest performance, ARRY shares gained by 22.14% in over the last four-week period, additionally plugging by 23.63% over the last 6 months – not to mention a rise of 4.86% 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 63.45, with the RSI for the last a single of trading hit 67.44, and the three-weeks RSI is set at 60.35 for Array Technologies Inc. [ARRY]. The present Moving Average for the last 50 days of trading for this stock 20.44, while it was recorded at 22.14 for the last single week of trading, and 20.78 for the last 200 days.

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 -1.04 and a Gross Margin at +7.82. Array Technologies Inc.’s Net Margin is presently recorded at +0.27.

Return on Total Capital for ARRY is now -1.62, given the latest momentum, and Return on Invested Capital for the company is 0.43. Return on Equity for this stock inclined to 1.50, with Return on Assets sitting at 0.31. When it comes to the capital structure of this company, Array Technologies Inc. [ARRY] has a Total Debt to Total Equity ratio set at 183.90. Additionally, ARRY Total Debt to Total Capital is recorded at 64.78, with Total Debt to Total Assets ending up at 45.69. Long-Term Debt to Equity for the company is recorded at 590.80, with the Long-Term Debt to Total Capital now at 61.02.

Reflecting on the efficiency of the workforce at the company, Array Technologies Inc. [ARRY] managed to generate an average of $4,096 per employee. Receivables Turnover for the company is 4.89 with a Total Asset Turnover recorded at a value of 1.14.Array Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.10.

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 44.60%.

Array Technologies Inc. [ARRY]: Institutional Ownership

The top three institutional holders of ARRY stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in ARRY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in ARRY stock with ownership which is approximately 5.7381%.

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