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

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 trading on Tuesday . The company traded as low as $50.32 and last traded at $50.96, with a volume of 245550 shares changing hands. The stock had previously closed at $51.00.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen upgraded Array Digital Infrastructure from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Zacks Research raised Array Digital Infrastructure to a "hold" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Array Digital Infrastructure Stock Performance

The company has a quick ratio of 1.71, a current ratio of 1.87 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of -161.19 and a beta of 0.31.

Insiders Place Their Bets

In other news, Director Harry J. Harczak, Jr. sold 1,960 shares of the company'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 sale, the director owned 19,374 shares of the company's stock, valued at approximately $1,476,298.80. This represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas W. Chambers sold 93,300 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $75.77, for a total value of $7,069,341.00. Following the sale, the chief executive officer directly owned 17,600 shares in the company, valued at $1,333,552. This represents a 84.13% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently 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.