Array Digital Infrastructure (NYSE:AD) Given Sell (D) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for Array Digital Infrastructure (NYSE:AD), indicating skepticism regarding its stock performance.
• The company’s stock traded up 0.5%, reaching $49.64, with a 1-year trading range between $47.03 and $79.17.
• CEO Douglas W. Chambers significantly reduced his ownership by selling 93,300 shares at an average price of $75.77, reflecting a 84.13% decrease in his stake.

Array Digital Infrastructure (NYSE:AD - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

AD has been the subject of several other reports. Zacks Research raised Array Digital Infrastructure to a "hold" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded Array Digital Infrastructure from a "hold" rating to a "buy" rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce".

Array Digital Infrastructure Trading Up 0.5%

AD stock traded up $0.24 during midday trading on Wednesday, reaching $49.64. 26,406 shares of the company's stock traded hands, compared to its average volume of 242,384. Array Digital Infrastructure has a 1-year low of $47.03 and a 1-year high of $79.17. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -165.46 and a beta of 0.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.71.

Insider Transactions at Array Digital Infrastructure

In other news, CEO Douglas W. Chambers sold 93,300 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $75.77, for a total transaction of $7,069,341.00. Following the sale, the chief executive officer owned 17,600 shares of the company's stock, valued at $1,333,552. This trade represents a 84.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $76.20, for a total value of $149,352.00. Following the completion of the sale, the director owned 19,374 shares in the company, valued at approximately $1,476,298.80. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

About Array Digital Infrastructure

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices.

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