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

Several major stocks, including PubMatic, Eventbrite, Five9, Zevra Therapeutics, Array Technologies, e.l.f. Beauty, and Lumen Technologies, are experiencing significant declines in pre-market trading due to various factors such as worse-than-expected earnings, revenue guidance cuts, and public offerings.

Portfolio Pulse from Avi Kapoor

August 09, 2024 | 10:44 am

Array Technologies Inc (NASDAQ:ARRY) shares dropped after the company reported better-than-expected Q2 earnings and sales but lowered its fiscal year guidance. The company posted earnings of 20 cents per share, beating the estimate of 11 cents, and sales of $255.766 million, surpassing the $231.615 million estimate. However, the company reduced its FY outlook to earnings between 64-74 cents and sales between $900 million to $1 billion, below the previous estimates.

Portfolio Pulse from Erica Kollmann

August 08, 2024 | 9:28 pm

Array Technologies shares are trading lower after the company cut its FY24 guidance.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 9:06 pm

Array Technologies has lowered its FY24 outlook, adjusting its EPS from $1.00-$1.15 to $0.64-$0.74 and sales from $1.25B-$1.40B to $900M-$1.00B. The company cites changes in expected customer project timing and declining ASP as reasons for the revised guidance.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 8:42 pm

Array Technologies (NASDAQ:ARRY) reported Q2 2024 adjusted EPS of $0.20, beating the $0.11 estimate. Sales were $255.766M, surpassing the $231.615M estimate. However, both EPS and sales decreased significantly compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 8:12 pm

Array Technologies has launched SkyLink, a PV-powered wireless tracker system, which enhances their DuraTrack and OmniTrack offerings.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 12:47 pm

Shares of companies within the broader industrial sector are trading lower amid overall market weakness following weak US data.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:47 pm

In the last three months, 11 analysts have shared their evaluations of Array Technologies (NASDAQ:ARRY), showing a range of sentiments from bullish to bearish. The average 12-month price target has decreased by 12.72%, with a current average target of $17.36. Analysts have adjusted their ratings and price targets in response to recent developments, with several lowering their targets. Array Technologies faces challenges with revenue growth, net margin, ROE, ROA, and debt management.

Portfolio Pulse from Benzinga Insights

July 16, 2024 | 4:00 pm

JP Morgan analyst Paul Coster maintains an Overweight rating on Array Technologies (NASDAQ:ARRY) but lowers the price target from $29 to $27.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 2:58 pm

Shares of EV, solar, and clean energy stocks are trading lower, possibly in reaction to Thursday's presidential debate.

Portfolio Pulse from Bill Haddad

June 28, 2024 | 5:27 pm

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