Array Technologies Inc [NASDAQ: ARRY] plunged by -$0.62 during the normal trading session on while it closed the day at $13.06. The company report on January 10, 2024 at 6:00 AM that 4 Solar Stocks to Put on your watchlist for 2024.
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Array Technologies Inc stock has also loss -3.83% of its value over the past 7 days. However, ARRY stock has declined by -25.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -27.73% and lost -22.26% year-on date.
The market cap for ARRY stock reached $1.97 billion, with 150.51 million shares outstanding and 146.74 million shares in the current float. Compared to the average trading volume of 5.95M shares, ARRY reached a trading volume of 5560545 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 $24.29 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 1.84. 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.
Barclays have made an estimate for Array Technologies Inc shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 22, 2024.
The Average True Range (ATR) for Array Technologies Inc is set at 0.85, with the Price to Sales ratio for ARRY stock in the period of the last 12 months amounting to 1.21. The Price to Book ratio for the last quarter was 7.09, 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 8.98 with Quick ratio for the last quarter at 1.62.
ARRY stock trade performance evaluation
Array Technologies Inc [ARRY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.83. With this latest performance, ARRY shares dropped by -15.41% in over the last four-week period, additionally sinking by -27.73% over the last 6 months – not to mention a drop of -35.41% 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 36.85, with the RSI for the last a single of trading hit 36.73, and the three-weeks RSI is set at 37.98 for Array Technologies Inc [ARRY]. The present Moving Average for the last 50 days of trading for this stock 15.41, while it was recorded at 13.42 for the last single week of trading, and 19.34 for the last 200 days.
Array Technologies Inc [ARRY]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for Array Technologies Inc [ARRY] stock
With the latest financial reports released by the company, Array Technologies Inc posted 0.1/share EPS, while the average EPS was predicted by analysts to be reported at 0.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 25.00%. 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 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ARRY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ARRY stock with ownership which is approximately 5.8325%.
