Array Digital Infrastructure (NYSE:AD) Stock Rating Lowered by Wall Street Zen

Key Points

• Array Digital Infrastructure has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in market sentiment regarding the stock.
• Separately, Zacks Research also upgraded the stock to a "hold" rating, indicating consensus among analysts that the stock is not currently positioned for strong growth.
• Recent insider trading showed significant sales by Director Harry J. Harczak, Jr. and CEO Douglas W. Chambers, raising questions about management's confidence in the company's future performance.

Wall Street Zen downgraded shares of Array Digital Infrastructure (NYSE:AD - Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

Separately, Zacks Research upgraded shares of Array Digital Infrastructure to a "hold" rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold".

Array Digital Infrastructure Stock Down 0.6%

Shares of AD stock traded down $0.30 during mid-day trading on Friday, hitting $53.74. The stock had a trading volume of 153,770 shares, compared to its average volume of 498,308. Array Digital Infrastructure has a fifty-two week low of $50.69 and a fifty-two week high of $79.17. The stock has a market capitalization of $4.62 billion, a PE ratio of -179.13 and a beta of 0.38. 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 Transactions at Array Digital Infrastructure

In other news, CEO Douglas W. Chambers sold 93,300 shares of Array Digital Infrastructure stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $75.77, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of Array Digital Infrastructure stock in a transaction dated 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 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.