Array Technologies (ARRY) Stock Price, News & Analysis

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Array Technologies in the last year. 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 brokerages have issued twelve-month price targets for Array Technologies' shares. Their ARRY share price targets range from $12.00 to $37.00. On average, they predict the company's share price to reach $20.37 in the next year. This suggests a possible upside of 82.3% from the stock's current price.
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Array Technologies' stock was trading at $16.80 on January 1st, 2024. Since then, ARRY stock has decreased by 33.5% and is now trading at $11.17.
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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) issued its earnings results on Tuesday, February, 27th. The solar tracking solution reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.10. The solar tracking solution earned $341.62 million during the quarter, compared to analyst estimates of $319.30 million. Array Technologies had a trailing twelve-month return on equity of 71.66% and a net margin of 8.47%.

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), Global X Clean Tech ETF (CTEC), ProShares S&P Kensho Cleantech ETF (CTEX), 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 earnings per share 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 IPO on Thursday, October 15th 2020. The company issued 33,800,000 shares at $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.

Array Technologies' stock is owned by many different retail and institutional investors. Top institutional shareholders include IMC Chicago LLC (0.00%), Wealth Enhancement Advisory Services LLC (0.04%), Los Angeles Capital Management 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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