TD Cowen has recently reiterated Array Technologies Inc (ARRY) stock to Hold rating, as announced on November 8, 2024, according to Finviz. Earlier, on November 7, 2024, Guggenheim had reduced the stock from a Buy to Neutral. BofA Securities also reduced Neutral rating with a price target of $7. Additionally, Jefferies resumed Buy rating on September 4, 2024, with a target price of $11. TD Cowen analysts, in their report published on August 9, 2024, also reiterated Hold rating and set a price target of $11.50 for Array Technologies Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Array Technologies Inc (ARRY) Stock Trading Recap
On Tuesday, Array Technologies Inc (ARRY) stock saw a decline, ending the day at $6.34 which represents a decrease of $-0.34 or -5.09% from the prior close of $6.68. The stock opened at $6.58 and touched a low of $6.31 during the day, reaching a high of $6.85. The volume of shares traded was 5.00 million falling short of the average volume of 6.44 million.
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ARRY Stock Performance and Moving Averages
In recent trading, Array Technologies Inc (ARRY) stock price has shown some volatility, fluctuating -9.69% over the last five trades and -5.37% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -53.24%, and it has plunged by -7.85% in the previous three months. Currently, ARRY is trading at -4.27%, -4.10%, and -36.50% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, ARRY, a Technology sector stock, is trading -68.54% below its 52-week high but remains 14.03% above its 52-week low. The Average True Range (ATR) (14 days) of 0.53 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Array Technologies Inc’s Profitability and Valuation Ratios
Array Technologies Inc’s profitability metrics reveal financial health. The company currently boasts an operating margin of 11.00% and a profit margin of -15.15%, with a gross margin of -53.24%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Array Technologies Inc’s market capitalization stands at $963.32 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The forward P/E ratio, which uses projected earnings for the next financial year, is 7.77. Additionally, the Price-to-Sales Ratio is 0.98, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 14.94, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.00% of Array Technologies Inc (ARRY)’s shares, while financial institutions hold 121.16%.
Notable insider trades include Hostetler Kevin G., Chief Executive Officer at Array Technologies Inc (ARRY), who sold 8176 shares on Mar 20 ’24, at $12.3 each, totaling $0.10 million.
