Array Technologies Inc [ARRY] is -13.35% lower this YTD. Is it still time to buy?

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Array Technologies Inc [NASDAQ: ARRY] price plunged by -3.35 percent to reach at -$0.58. The company report on October 17, 2023 at 4:05 PM that Array Technologies, Inc. Announces Third Quarter 2023 Earnings Release Date and Conference Call.

The conference call can be accessed live over the phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853, or for international callers, (201)-612-7415. The passcode for the live call and the replay is 13741372. The replay will be available until 11:59 p.m. (ET) on November 21, 2023.

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A sum of 9838249 shares traded at recent session while its average daily volume was at 4.74M shares. Array Technologies Inc shares reached a high of $17.50 and dropped to a low of $15.88 until finishing in the latest session at $16.75.

The one-year ARRY stock forecast points to a potential upside of 44.72. The average equity rating for ARRY stock is currently 1.48, trading closer to a bullish pattern in the stock market.

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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 $30.30 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 1.48. 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.

Exane BNP Paribas have made an estimate for Array Technologies Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 20, 2023.

The Average True Range (ATR) for Array Technologies Inc is set at 1.17, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 8.80, with the Price to Cash per share for the same quarter was set at 1.03. Price to Free Cash Flow for ARRY in the course of the last twelve months was 10.02 with Quick ratio for the last quarter at 1.61.

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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 -4.99. With this latest performance, ARRY shares dropped by -14.30% in over the last four-week period, additionally sinking by -8.42% over the last 6 months – not to mention a drop of -7.46% 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 33.74, with the RSI for the last a single of trading hit 30.66, and the three-weeks RSI is set at 36.59 for Array Technologies Inc [ARRY]. The present Moving Average for the last 50 days of trading for this stock 21.63, while it was recorded at 17.23 for the last single week of trading, and 20.94 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 -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 1.61 and a Current Ratio set at 2.09.


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] Institutonal Ownership Details

The top three institutional holders of ARRY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ARRY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ARRY stock with ownership which is approximately 5.7994%.

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