Wall Street Zen Downgrades Array Digital Infrastructure (NYSE:AD) to Hold

Key Points

• Array Digital Infrastructure (NYSE:AD) has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen in a recent note to investors.
• The company has reported $0.26 earnings per share (EPS) for the quarter, but has a negative net margin of 0.68% and a market capitalization of $4.24 billion.
• Insider trading activity includes significant sales, with CEO Douglas W. Chambers selling 93,300 shares for over $7 million, signifying a substantial reduction in their ownership stake.

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

Other equities analysts have also recently issued research reports about the stock. Zacks Research raised shares of Array Digital Infrastructure to a "hold" rating in a report on Tuesday, August 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Array Digital Infrastructure in a report on Wednesday. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce".

Array Digital Infrastructure Price Performance

Shares of NYSE AD opened at $49.30 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61. Array Digital Infrastructure has a 52-week low of $47.03 and a 52-week high of $79.17. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -164.33 and a beta of 0.20.

Array Digital Infrastructure (NYSE:AD - Get Free Report) last issued its earnings results on Friday, November 1st. The company reported $0.26 earnings per share (EPS) for the quarter. Array Digital Infrastructure had a negative net margin of 0.68% and a positive return on equity of 1.67%. The firm had revenue of $922.00 million for the quarter.

Insider Buying and Selling

In other news, Director Harry J. Harczak, Jr. sold 1,960 shares of Array Digital Infrastructure stock in a transaction that occurred 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. The trade was a 9.19% decrease in their ownership of the stock. The transaction 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 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 sale, the chief executive officer directly owned 17,600 shares in the company, valued at approximately $1,333,552. This trade represents a 84.13% decrease in their position. The disclosure for this sale can be found here. 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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