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

5.96

Mkt cap

942M

Volume

19M

High

6.37

P/E Ratio

62.00

52-wk high

20.15

Low

5.95

Div yield

N/A

52-wk low

5.56

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

Array Technologies (NASDAQ:ARRY) received mixed ratings from 13 analysts, with a shift towards a more bearish sentiment. The average 12-month price target was reduced by 16.12% to $25.08. Analysts from firms like Mizuho, Piper Sandler, and Goldman Sachs adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Array Technologies, a manufacturer of solar energy ground-mounting systems, has seen a revenue decline of -31.96% over the last quarter but maintains strong profitability indicators such as net margin and ROE.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 9:01 pm

Mizuho analyst Maheep Mandloi has maintained a Neutral rating on Array Technologies (NASDAQ: ARRY) and increased the price target from $19 to $20.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 8:14 pm

Shares of companies in the industrial sector are trading lower due to potential profit-taking after a recent market rally. This trend affects multiple companies across the sector.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 8:49 pm

U.S. stocks traded higher, but several companies saw their shares fall. bluebird bio announced a $150 million public offering, causing its stock to drop 14.2%. CureVac shares plummeted 35.7% after a German Federal Patent Court decision. Other stocks that moved lower include Shengfeng Development, Invivyd, Diversified Energy, Vertex Energy, uniQure, TFF Pharmaceuticals, Lyft, and Array Technologies, with various factors such as downgrades and clinical trial updates influencing their declines.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 3:19 pm

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