Array Technologies (ARRY) Stock Price, News & Analysis

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Array Technologies in the last twelve months. There are currently 1 sell rating, 8 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" ARRY shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in ARRY, but not buy additional shares or sell existing shares.
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17 analysts have issued twelve-month price objectives for Array Technologies' stock. Their ARRY share price targets range from $12.00 to $37.00. On average, they expect the company's stock price to reach $20.37 in the next year. This suggests a possible upside of 85.7% from the stock's current price.
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Array Technologies' stock was trading at $16.80 at the beginning of 2024. Since then, ARRY shares have decreased by 34.7% and is now trading at $10.97.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024.
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Array Technologies, Inc. (NASDAQ:ARRY) posted its quarterly earnings results on Tuesday, February, 27th. The solar tracking solution reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.10. The solar tracking solution had revenue of $341.62 million for the quarter, compared to the consensus estimate of $319.30 million. Array Technologies had a net margin of 8.47% and a trailing twelve-month return on equity of 71.66%.

ETFs with the largest weight of Array Technologies (NASDAQ:ARRY) stock in their portfolio include Invesco Solar ETF (TAN), First Trust RBA American Industrial Renaissance ETF (AIRR), Global X Solar ETF (RAYS), ProShares S&P Kensho Cleantech ETF (CTEX), Global X Clean Tech ETF (CTEC), SPDR S&P Kensho Clean Power ETF (CNRG), ALPS Clean Energy ETF (ACES) and Fidelity Clean Energy ETF (FRNW).

Array Technologies updated its FY 2024 earnings guidance on Tuesday, February, 27th. The company provided EPS guidance of 1.000-1.150 for the period, compared to the consensus EPS estimate of 1.270. The company issued revenue guidance of $1.3 billion-$1.4 billion, compared to the consensus revenue estimate of $1.9 billion.

Based on aggregate information from My MarketBeat watchlists, some companies that other Array Technologies investors own include Puma Biotechnology (PBYI), BioMarin Pharmaceutical (BMRN), (MDVN) (MDVN), Incyte (INCY), First Solar (FSLR), Dynavax Technologies (DVAX), United Airlines (UAL), Exelixis (EXEL), (KITE) (KITE) and Omeros (OMER).

Array Technologies (ARRY) raised $676 million in an initial public offering (IPO) 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 acted as the underwriters for the IPO and Credit Suisse, Barclays and UBS Investment Bank were co-managers.

Array Technologies' stock is owned by a variety of institutional and retail investors. Top institutional investors include IMC Chicago LLC (0.00%), Wealth Enhancement Advisory Services LLC (0.04%), Los Angeles Capital Management LLC (0.02%), Allspring Global Investments Holdings LLC (0.02%) and Banque Cantonale Vaudoise (0.01%). Insiders that own company stock include Erica Brinker, Gerrard Schmid, Kenneth R Stacherski, Kevin G Hostetler, Nipul M Patel and Tyson Hottinger.
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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.
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