Array Digital Infrastructure (NYSE:AD) Sets New 1-Year Low - Here's What Happened

Key Points

• Array Digital Infrastructure's stock price hit a new 52-week low at $50.44 during trading on Wednesday, leading analysts to consider the viability of holding or selling shares.
• Analysts have mixed opinions, with Wall Street Zen upgrading the stock from "hold" to "buy", while Zacks Research maintains a "hold" rating, resulting in a consensus rating of "Hold".
• Recent insider trading activity includes significant sales by Director Harry J. Harczak, Jr. and CEO Douglas W. Chambers, which could be a sign of decreased confidence in the stock's future performance.

Shares of Array Digital Infrastructure Inc. (NYSE:AD - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $50.44 and last traded at $50.59, with a volume of 88141 shares trading hands. The stock had previously closed at $51.27.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AD shares. Wall Street Zen raised shares of Array Digital Infrastructure from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Zacks Research raised shares of Array Digital Infrastructure to a "hold" rating in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

Array Digital Infrastructure Stock Down 0.1%

The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 57.96 and a beta of 0.31.

Insider Buying and Selling at Array Digital Infrastructure

In other Array Digital Infrastructure news, CEO Douglas W. Chambers sold 93,300 shares of Array Digital Infrastructure stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $75.77, for a total value of $7,069,341.00. Following the completion of the sale, the chief executive officer directly owned 17,600 shares of the company's stock, valued at approximately $1,333,552. The trade was a 84.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of Array Digital Infrastructure stock in a transaction on Monday, August 18th. The shares were sold at an average price of $76.20, for a total transaction of $149,352.00. Following the completion of the sale, the director directly owned 19,374 shares of the company's stock, 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. 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.