Array Digital Infrastructure (NYSE:AD) Lowered to Hold Rating 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.

Array Digital Infrastructure (NYSE:AD - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

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

Array Digital Infrastructure Stock Performance

Shares of NYSE:AD opened at $54.80 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.71. The stock has a market capitalization of $4.66 billion, a P/E ratio of -182.66 and a beta of 0.38. Array Digital Infrastructure has a 52 week low of $50.69 and a 52 week high of $79.17.

Insider Transactions at Array Digital Infrastructure

In other Array Digital Infrastructure news, Director Harry J. Harczak, Jr. sold 1,960 shares of the 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 transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas W. Chambers sold 93,300 shares of the 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 transaction, the chief executive officer directly owned 17,600 shares of the company's stock, valued at approximately $1,333,552. This trade represents a 84.13% 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.

Array Digital Infrastructure Company Profile

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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