Array Technologies Inc. (ARRY) experienced a boost in its stock price, rising by 0.97 compared to its previous closing price of 19.62, with an increase of 11.29% in its stock price overall. Analysts have predicted that there is still room for growth, with an average price of $27.17 projected for ARRY. Stacherski Kenneth R., the COO of Array Technologies Inc., sold 1,327 shares at $18.39 during a trade on Sep 19. The company’s current profitability levels stand at -2.58 for the present operating margin and +6.91 for the gross margin, with a net margin of -5.91. The debt to equity ratio is 431.85, while total debt to capital is 81.20. The liquidity ratio is 3.47.
Array Technologies Inc. (NASDAQ: ARRY) has experienced an upsurge in its stock price, with an increase of 0.97 from its previous closing price of 19.62. This positive momentum has pushed the company’s stock price up by 11.29%.
Analysts’ Predictions for ARRY
Despite the recent gain, analysts predict that there is still room for growth, with an average price of $27.17 projected for ARRY. This figure is $7.13 higher than the current market price. Short sellers currently hold a 12.05% ratio of the public float of 148.53M shares. ARRY’s average trading volume on March 24, 2023 was 4.87M shares.
ARRY’s Market Performance
ARRY’s stock has experienced an overall positive trend, with an 11.29% increase for the week, a 0.61% rise in the past month, and a -4.44% drop in the past quarter. The volatility ratio for the week is 9.34%, while the volatility levels for the past 30 days are at 7.46%. The simple moving average for the last 20 days is 2.31%, and the simple moving average for the last 200 days is 8.34% for ARRY stock.
Analysts’ Opinion of ARRY
Several brokerage firms have published their reports for ARRY stocks. Citigroup has listed the company as “Neutral” with a predicted price of $24 based on their research report published on March 10th, 2023. Meanwhile, Scotiabank expects to see ARRY reach a price target of $26 with a “Sector Outperform” rating, according to the report published on March 02nd, 2023. Cantor Fitzgerald has given ARRY an “Overweight” rating, setting the target price at $26 in the report published on December 23rd of the previous year.
ARRY Trading Below 50-Day Moving Average
ARRY’s stock is currently trading at -4.27% below the 50-day moving average. Although the company has experienced a positive trend, it was unable to rebound from the previous market slump, resulting in a loss of 19.44% over the last 52 weeks. Volatility remains at 7.46%, and over the last 30 days, the volatility rate increased by 9.34% as shares dropped by 0.60% for the moving average over the last 20 days.
During the last 5 trading sessions, ARRY has seen a rise of 11.29%, changing the moving average for the period of 200-days by 45.98% in comparison to the 20-day moving average, which settled at $19.36. Additionally, Array Technologies Inc. saw a 2.48% overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports indicate that there have been several insider trading activities at ARRY. Hottinger Tyson sold 8,500 shares at the price of $20.74 back on Nov 16. Following this action, Hottinger Tyson now owns 75,547 shares of Array Technologies Inc., valued at $176,292 using the latest closing price.
Stacherski Kenneth R., the Chief Operations Officer of Array Technologies Inc., sold 1,327 shares at $18.39 during a trade on Sep 19. This brings Stacherski Kenneth R.’s total holding to 99,902 shares at $24,409 based on the most recent closing price.
Stock Fundamentals for ARRY
Array Technologies Inc.’s current profitability levels stand at:
-
Operating margin: -2.58
-
Gross margin: +6.91
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Net margin: -5.91
The company’s total capital return value is -3.55, while invested capital returns managed to touch -8.21. Equity return is now at value -136.30, with -3.60 for asset returns.
In terms of capital structure, Array Technologies Inc. has a debt to equity ratio of 431.85, while total debt to capital is 81.20. The company’s enterprise to sales ratio is 2.20, with a debt to enterprise value settled at 0.28. The receivables turnover for the company is 4.48, and the total asset turnover is 0.94. The liquidity ratio is 3.47.
Conclusion
While analysts have mixed opinions on the stock, Array Technologies Inc. (ARRY) has recently experienced better performance. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
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