Streetbeat News

ARRY

Array Technologies, Inc.

Industry

Solar

Array Technologies, Inc. manufactures and supplies solar tracking systems and related products in the United States and internationally. Its products include DuraTrack HZ v3, a single-axis solar tracking system; and SmarTrack, a machine learning software that is used to identify the optimal position for a solar array in real time to increase energy production. The company was founded in 1989 and is headquartered in Albuquerque, New Mexico.

Open

7.72

Mkt cap

Volume

7.5M

High

7.75

P/E Ratio

-6.99

52-wk high

20.15

Low

6.84

Div yield

N/A

52-wk low

5.56

ARRAY Technologies has announced a $3 million investment in Swap Robotics to enhance automation in photovoltaic (PV) installation. This strategic move aims to bolster ARRAY's position in solar tracker technology by leveraging Swap Robotics' expertise in solar robotic operations.

Portfolio Pulse from

November 18, 2024 | 9:15 pm

ARRAY Technologies has appointed Leonardo Serpa as general manager and Héctor Sánchez as vice president of sales for the EMEA region, indicating a strategic focus on expanding its presence in these markets.

Portfolio Pulse from

November 18, 2024 | 2:15 pm

Array Technologies, Inc. (ARRY) held its Q3 2024 earnings call on November 7, 2024. Key company executives and several analysts participated in the call.

Portfolio Pulse from

November 08, 2024 | 5:00 am

Array Technologies, Inc. (ARRY) reported Q3 earnings of $0.17 per share, surpassing the Zacks Consensus Estimate of $0.14. This is a decrease from $0.21 per share a year ago.

Portfolio Pulse from

November 07, 2024 | 11:45 pm

Solar energy stocks, which have underperformed in 2024, saw a positive price action on Friday. The Invesco Solar ETF (TAN) is down over 25% year-to-date, with major components like Enphase Energy, Canadian Solar, and First Solar experiencing significant declines. However, a report about China potentially curbing polysilicon production led to a rally in solar stocks. The upcoming U.S. presidential election could further impact the sector, with differing policies from candidates Kamala Harris and Donald Trump.

Portfolio Pulse from Hayden Buckfire

October 26, 2024 | 11:00 am

Shares of solar-related companies are trading higher following a report that China plans to address oversupply concerns by curbing industry production.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2024 | 5:18 pm

Array Technologies (NASDAQ:ARRY) has seen a negative shift in analyst sentiment, with a decrease in the average 12-month price target by 28.33%. Analysts have predominantly lowered their ratings and price targets, reflecting concerns over the company's recent financial performance, including a significant revenue decline. Despite challenges, Array Technologies maintains strong profitability metrics such as net margin and ROE.

Portfolio Pulse from Benzinga Insights

October 22, 2024 | 7:00 pm

Array Technologies (NASDAQ:ARRY) has seen a mix of bullish and bearish analyst ratings over the past three months, with a notable decrease in the average 12-month price target from $16.98 to $12.17. Analysts have adjusted their ratings and price targets, reflecting changing market conditions and company performance. Despite challenges such as a -49.63% revenue decline, Array Technologies maintains strong profitability with a net margin of 4.67% and a return on equity of 5.54%. However, the company faces debt management challenges with a high debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

October 22, 2024 | 5:01 pm

Piper Sandler has maintained a Neutral rating on Array Technologies but lowered the price target from $8 to $7.

Portfolio Pulse from Benzinga Newsdesk

October 22, 2024 | 1:59 pm

JP Morgan analyst Paul Coster maintains an Overweight rating on Array Technologies but lowers the price target from $22 to $20.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 2:31 pm

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