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

Numerous companies are scheduled to report their earnings on February 27, 2024, covering a wide range of industries from technology and healthcare to energy and financial services. The report includes a mix of expected quarterly losses and earnings, highlighting the diverse financial health and performance outlooks within the corporate landscape.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 10:01 am

Institutional investors have shown increased interest in Bank of America, Walt Disney, JD.com, Array Technologies, and Spirit AeroSystems, as indicated by Q4 2023 13F filings. These companies have seen significant hikes in institutional ownership, with notable investors like Berkshire Hathaway and Vanguard Group leading the charge. This shift in investment preference leaves behind tech giants Tesla and Nvidia, highlighting a potential market trend towards banking, entertainment, e-commerce, renewable energy, and aerospace sectors.

Portfolio Pulse from Surbhi Jain

February 16, 2024 | 3:54 pm

Shares of companies in the industrial sector are down due to a higher-than-expected rise in January inflation data, affecting investor sentiment and stock prices.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 8:38 pm

Solar stocks are trading higher following Enphase's positive Q4 results announcement. Enphase's strong performance has positively influenced the broader solar sector, indicating investor confidence in the solar energy market.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 6:45 pm

Truist Securities analyst Jordan Levy has maintained a Buy rating on Array Technologies (NASDAQ:ARRY) but has reduced the price target from $30 to $25.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:59 pm

Array Technologies (NASDAQ:ARRY) has been the subject of diverse analyst opinions, with 12 analysts offering varied views in the last three months. The sentiment has shifted from bullish to indifferent, with no bullish ratings in the last 30 days. The average 12-month price target is now $23.67, down from $29.00, with a high estimate of $31.00 and a low of $15.00. Analysts from firms including Barclays, Wells Fargo, and Goldman Sachs have adjusted their ratings and price targets, generally lowering them. Array Technologies is a manufacturer of solar energy project systems, with a market cap below industry average, a -31.96% revenue decline as of September 30, 2023, but strong net margin and ROE. The company's debt-to-equity ratio is higher than the industry average, indicating potential financial risk.

Portfolio Pulse from Benzinga Insights

January 22, 2024 | 6:00 pm

Wall Street analysts have updated their price targets and ratings for several companies. Needham raised Uber's price target to $71 with a Buy rating. Morgan Stanley increased e.l.f. Beauty's target to $168 but downgraded it to Equal-Weight. Baird downgraded ADM and cut its target to $61. Barclays downgraded ARRY and reduced its target to $15. Citigroup raised Fastly's target to $20 and upgraded it to Neutral. Goldman Sachs increased StoneCo's target to $21 and upgraded it to Buy. Keybanc raised Autodesk's target to $265 with an Overweight rating. Citigroup increased Datadog's target to $150 with a Buy rating. TD Cowen raised Lyft's target to $12 with a Market Perform rating. BMO Capital downgraded LCI Industries and lowered its target to $100.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 12:20 pm

Barclays analyst Christine Cho downgraded Array Technologies (ARRY) from Overweight to Equal-Weight and reduced the price target from $22 to $15.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:45 am

Wells Fargo downgraded Array Technologies (NASDAQ:ARRY) from an unspecified rating to Equal-Weight and lowered the price target from $22.00 to $19.00. Despite the downgrade, the new price target suggests a potential upside of 26.88% from the current share price of $14.97. Array Technologies is a manufacturer of solar energy ground-mounting systems, with the majority of its revenue derived from the United States.

Portfolio Pulse from Benzinga Insights

January 08, 2024 | 5:00 pm

Wells Fargo analyst Michael Blum has downgraded Array Technologies (ARRY) from Overweight to Equal-Weight and reduced the price target from $22 to $19.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:04 pm

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