Array Digital Infrastructure (NYSE:AD) Hits New 1-Year Low - Should You Sell?

Key Points

• Array Digital Infrastructure's stock hit a new 52-week low of $50.32 during trading, reflecting ongoing bearish sentiment.
• Despite recent declines, Wall Street analysts hold a consensus rating of "Hold," with some raising their outlook, including a recent upgrade to "buy" by Wall Street Zen.
• Significant insider trading activity occurred, with CEO Douglas W. Chambers selling a large block of shares, indicating a decrease in executive confidence in the stock.

Array Digital Infrastructure Inc. (NYSE:AD - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $50.32 and last traded at $50.96, with a volume of 245550 shares traded. The stock had previously closed at $51.00.

Wall Street Analysts Forecast Growth

AD has been the subject of several recent analyst reports. Wall Street Zen raised Array Digital Infrastructure from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Zacks Research raised Array Digital Infrastructure to a "hold" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Array Digital Infrastructure Stock Down 0.1%

The company has a market cap of $4.38 billion, a P/E ratio of -169.86 and a beta of 0.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.71 and a current ratio of 1.87.

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 that occurred 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 in the company, valued at $1,333,552. The trade was a 84.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $76.20, for a total transaction of $149,352.00. Following the transaction, the director directly owned 19,374 shares in the company, valued at $1,476,298.80. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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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