Array Technologies Inc (NASDAQ: ARRY) Seen Running Too Hot, Let’s Look At This More Closely

Currently, there are 151.24M common shares owned by the public and among those 148.09M shares have been available to trade.

However, the script later moved the day high at 12.61, down -3.40%. The company’s stock has a 5-day price change of 2.83% and -15.54% over the past three months. ARRY shares are trading -15.54% year to date (YTD), with the 12-month market performance down to -29.68% lower. It has a 12-month low price of $11.38 and touched a high of $26.64 over the same period. ARRY has an average intraday trading volume of 5.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.60%, 4.52%, and -20.45% respectively.

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Institutional ownership of Array Technologies Inc (NASDAQ: ARRY) shares accounts for 116.80% of the company’s 151.24M shares outstanding.

It has a market capitalization of $2.15B and a beta (3y monthly) value of 1.65. The stock’s trailing 12-month PE ratio is 26.38, while the earnings-per-share (ttm) stands at $0.54. The company has a PEG of 1.77 and a Quick Ratio of 2.00 with the debt-to-equity ratio at 1.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.33% over the week and 5.57% over the month.

Earnings per share for the fiscal year are expected to decrease by -6.70%, and 34.79% over the next financial year.

Looking at the support for the ARRY, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on Apr-03-24, with the firm’s price target at $15-$18. BMO Capital Markets coverage for the Array Technologies Inc (ARRY) stock in a research note released on March 22, 2024 offered a Market Perform rating with a price target of $16. KeyBanc Capital Markets was of a view on March 05, 2024 that the stock is Sector Weight, while TD Cowen gave the stock Market Perform rating on February 28, 2024, issuing a price target of $22.50- $16.50. Exane BNP Paribas on their part issued Underperform rating on February 28, 2024.

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