Streetbeat News

ARRY

Array Technologies, Inc.

https://arraytechinc.com

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

1B

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

Piper Sandler analyst Kashy Harrison maintains a Neutral rating on Array Technologies (NASDAQ:ARRY) and lowers the price target from $22 to $12.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:31 pm

JP Morgan analyst Mark Strouse maintains an Overweight rating on Array Technologies (NASDAQ:ARRY) but lowers the price target from $35 to $29.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:53 pm

Mizuho analyst Maheep Mandloi has reiterated a Neutral rating on Array Technologies (NASDAQ:ARRY) and lowered the price target from $20 to $18.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:55 pm

Array Technologies (NASDAQ:ARRY) has received mixed analyst ratings over the last quarter, with a total of 7 analysts offering perspectives that range from bullish to indifferent. No changes in ratings occurred in the last 30 days. The average 12-month price target for ARRY is now $19.71, down from $23.67, indicating a 16.73% decrease. Analysts from firms including Truist Securities, Barclays, and Wells Fargo have adjusted their price targets, reflecting changing market dynamics and company performance. Array Technologies, a manufacturer of solar energy ground-mounting systems, has seen a -31.96% decline in revenue growth as of September 30, 2023, but maintains strong profitability metrics such as net margin and ROE.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 1:01 pm

Exane BNP Paribas analyst Moses Sutton downgraded Array Technologies (NASDAQ:ARRY) from Neutral to Underperform.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 12:09 pm

Array Technologies forecasts its FY24 revenue to be between $1.25B and $1.4B, which is below the estimated $1.86B. Additionally, its adjusted EPS is expected to be between $1.00 and $1.15, also lower than the estimated $1.27.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:36 pm

Array Technologies (NASDAQ:ARRY) reported Q4 2023 adjusted EPS of $0.21, surpassing the $0.11 estimate, with sales of $341.62M exceeding the $314.86M estimate. However, this represents a 15.04% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 9:43 pm

In Tuesday's after-market session, several industrials stocks saw significant movements. Nauticus Robotics and NeoVolta were among the top gainers, while Sarcos Technology and View experienced notable declines. Axon Enterprise and Array Technologies reported their Q4 earnings, influencing their stock prices.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 9:31 pm

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

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.