Array Technologies (ARRY) Stock Price, News & Analysis

Company Overview

Array Technologies, Inc. manufactures and sells ground-mounting tracking systems used in solar energy projects in the United States, Spain, Brazil, Australia, and internationally. The company operates in two segments, Array Legacy Operations and STI Operations. Its products portfolio includes DuraTrack HZ v3, a single axis tracker; Array STI H250 that delivers a lower levelized cost of energy with tracker system; Array OmniTrack; and SmarTrack, a software product that uses site-specific historical weather and energy production data in combination with machine learning algorithms to identify the optimal position for a solar array in real time to enhance energy production. Array Technologies, Inc. was incorporated in 1987 and is headquartered in Albuquerque, New Mexico.

Key Stats

• Today's Range: $6.15 to $6.55
• 50-Day Range: $5.69 to $7.21
• 52-Week Range: $5.56 to $20.15
• Volume: 4.91 million shs
• Average Volume: 5.70 million shs
• Market Capitalization: $948.56 million
• P/E Ratio: 52.09
• Dividend Yield: N/A
• Price Target: $12.73
• Consensus Rating: Hold

Array Technologies Stock Analysis - MarketRank™

Array Technologies scored higher than 64% of companies evaluated by MarketBeat, and ranked 141st out of 254 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.2 / 5
• Analyst Rating: Hold

Consensus Rating

Array Technologies has received a consensus rating of Hold. The company's average rating score is 2.48, and is based on 12 buy ratings, 10 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

Array Technologies has been the subject of 17 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 46.67%

Earnings Growth

Earnings for Array Technologies are expected to grow by 46.67% in the coming year, from $0.60 to $0.88 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Array Technologies is 52.09, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 135.29.

Price to Earnings Ratio vs. Sector

The P/E ratio of Array Technologies is 52.09, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 16.68.

Price to Earnings Growth Ratio

Array Technologies has a PEG Ratio of 1.12. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Array Technologies has a P/B Ratio of 3.65. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

21.45% of the outstanding shares of Array Technologies have been sold short.

Short Interest Ratio / Days to Cover

Array Technologies has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Array Technologies has recently increased by 8.93%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Array Technologies does not currently pay a dividend.

Dividend Growth

Array Technologies does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

21.45% of the outstanding shares of Array Technologies have been sold short.

Short Interest Ratio / Days to Cover

Array Technologies has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Array Technologies has recently increased by 8.93%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 1.6 / 5
• News Sentiment: -0.18

News Sentiment

Array Technologies has a news sentiment score of -0.18. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.42 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for Array Technologies this week, compared to 3 articles on an average week.

Search Interest

8 people have searched for ARRY on MarketBeat in the last 30 days. This is an increase of 100% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Array Technologies to their MarketBeat watchlist in the last 30 days. This is a decrease of -25% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Array Technologies insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 0.31% of the stock of Array Technologies is held by insiders.

ARRY Stock Analysis - Frequently Asked Questions

How have ARRY shares performed this year?

Array Technologies' stock was trading at $16.80 at the start of the year. Since then, ARRY stock has decreased by 62.8% and is now trading at $6.25.
View the best growth stocks for 2024 here.

How were Array Technologies' earnings last quarter?

Array Technologies, Inc. (NASDAQ:ARRY) issued its quarterly earnings data on Thursday, August, 8th. The solar tracking solution reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. Array Technologies's quarterly revenue was down 49.6% on a year-over-year basis.

When did Array Technologies IPO?

Array Technologies (ARRY) raised $676 million in an initial public offering on Thursday, October 15th 2020. The company issued 33,800,000 shares at a price of $19.00-$21.00 per share. Goldman Sachs, JPMorgan Securities, Guggenheim Securities and Morgan Stanley served as the underwriters for the IPO and Credit Suisse, Barclays and UBS Investment Bank were co-managers.

Who are Array Technologies' major shareholders?

Array Technologies' top institutional investors include Swedbank AB (2.55%), Handelsbanken Fonder AB (1.78%), E. Ohman J or Asset Management AB (0.09%) and Essex Investment Management Co. LLC (0.09%). Insiders that own company stock include Kevin G Hostetler, Kenneth R Stacherski, Nipul M Patel, Tyson Hottinger, Erica Brinker and Gerrard Schmid.
View institutional ownership trends.

How do I buy shares of Array Technologies?

Shares of ARRY stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Array Technologies own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Array Technologies investors own include Symbotic (SYM), JPMorgan Nasdaq Equity Premium Income ETF (JEPQ), Voya Infrastructure, Industrials and Materials Fund (IDE), NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD) and First Solar (FSLR).

Company Calendar

• Last Earnings: 8/08/2024
• Today: 10/24/2024
• Next Earnings (Confirmed): 11/07/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Oils/Energy
• Industry: Miscellaneous manufacturing industries
• Sub-Industry: Electric Utilities
• Current Symbol: NASDAQ:ARRY
• CUSIP: 04269X10
• CIK: 1100412
• Web: arraytechinc.com
• Phone: 505-881-7567
• Fax: N/A
• Employees: 1,028
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $12.73
• High Stock Price Target: $20.00
• Low Stock Price Target: $7.00
• Potential Upside/Downside: +103.6%
• Consensus Rating: Hold
• Rating Score (0-4): 2.48
• Research Coverage: 23 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.38
• Trailing P/E Ratio: 52.09
• Forward P/E Ratio: 10.42
• P/E Growth: 1.12
• Net Income: $137.24 million
• Net Margins: 6.39%
• Pretax Margin: 8.14%
• Return on Equity: 54.84%
• Return on Assets: 7.85%

Debt

• Debt-to-Equity Ratio: 3.26
• Current Ratio: 2.51
• Quick Ratio: 2.02

Sales & Book Value

• Annual Sales: $1.10 billion
• Price / Sales: 0.86
• Cash Flow: $1.65 per share
• Price / Cash Flow: 3.78
• Book Value: $1.71 per share
• Price / Book: 3.65

Miscellaneous

• Outstanding Shares: 151,769,000
• Free Float: 151,455,000
• Market Cap: $948.56 million
• Optionable: Optionable
• Beta: 1.63