Array Technologies Inc [NASDAQ: ARRY] stock went on a downward path that fall over -0.50% on Monday, amounting to a one-week price decrease of less than -22.56%. The company report on November 7, 2023 at 4:10 PM that Array Technologies, Inc. Reports Financial Results for the Third Quarter 2023 – Continues strong operational execution; announced Chief Financial Officer transition.
Third Quarter 2023 Highlights.
Over the last 12 months, ARRY stock dropped by -31.50%. The one-year Array Technologies Inc stock forecast points to a potential upside of 49.51. The average equity rating for ARRY stock is currently 1.48, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.11 billion, with 150.51 million shares outstanding and 146.71 million shares in the current float. Compared to the average trading volume of 5.07M shares, ARRY stock reached a trading volume of 6709587 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 $27.61 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 1.32, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.29. The Price to Book ratio for the last quarter was 7.56, with the Price to Cash per share for the same quarter was set at 1.15. Price to Free Cash Flow for ARRY in the course of the last twelve months was 9.59 with Quick ratio for the last quarter at 1.62.
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 -22.56. With this latest performance, ARRY shares dropped by -28.29% in over the last four-week period, additionally sinking by -40.55% over the last 6 months – not to mention a drop of -31.50% 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 28.85, with the RSI for the last a single of trading hit 24.96, and the three-weeks RSI is set at 32.17 for Array Technologies Inc [ARRY]. The present Moving Average for the last 50 days of trading for this stock 20.42, while it was recorded at 14.99 for the last single week of trading, and 20.68 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 1.62 and a Current Ratio set at 2.15.
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 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%.