Why Should You Put Array Technologies Inc (NASDAQ: ARRY) On Your Portfolio?

Currently, there are 150.51M common shares owned by the public and among those 146.74M shares have been available to trade.

Insiders at the company have transacted a total of 47 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 380,240 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 112,658 shares.

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However, the script later moved the day high at 16.22, up 4.27%. The company’s stock has a 5-day price change of 21.52% and 15.25% over the past three months. ARRY shares are trading -5.54% year to date (YTD), with the 12-month market performance down to -22.09% lower. It has a 12-month low price of $12.52 and touched a high of $26.64 over the same period. ARRY has an average intraday trading volume of 1.07 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.20%, 3.45%, and -17.33% respectively.

Institutional ownership of Array Technologies Inc (NASDAQ: ARRY) shares accounts for 114.84% of the company’s 150.51M shares outstanding.

It has a market capitalization of $2.40B and a beta (3y monthly) value of 1.68. The stock’s trailing 12-month PE ratio is 41.37, while the earnings-per-share (ttm) stands at $0.38. The company has a PEG of 0.93 and a Quick Ratio of 1.62 with the debt-to-equity ratio at 1.13. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.73% over the week and 5.80% over the month.

Analysts forecast that Array Technologies Inc (ARRY) will achieve an EPS of $ARMOUR Residential REIT, Inc. for the current quarter, $19.26 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $AMERICAN RARE EARTHS LTD while analysts give the company a high EPS estimate of $Accuray Incorporated. Comparatively, EPS for the current quarter was $VAR ENERGI ASA UNSPON ADS EACH a year ago. Earnings per share for the fiscal year are expected to increase by 170.73%, and 24.44% over the next financial year. EPS should grow at an annualized rate of 44.60% over the next five years, compared to 11.68% over the past 5-year period.

Looking at the support for the ARRY, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on January 22, 2024, with the firm’s price target at $22-$15.

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