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

Roth MKM analyst Philip Shen maintains a Buy rating on Array Technologies (ARRY) but lowers the price target from $25 to $20.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 1:11 pm

Array Technologies (NASDAQ:ARRY) and DNV Energy USA released a report on solar tracker wind stow strategies, highlighting that Array's new passive stow technology significantly boosts energy production, preserving 99.95% of energy on average during wind stow events. This technology, featured in Array's DuraTrack and OmniTrack products, offers substantial energy production gains and improved reliability over active stow alternatives, reducing energy losses to just 0.05% compared to the average 2.8% with active stow methods.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:06 pm

Scotiabank analyst Tristan Richardson maintains a Sector Outperform rating on Array Technologies (NASDAQ:ARRY) but lowers the price target from $25 to $18.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 6:44 pm

Array Technologies (NASDAQ: ARRY) announced the groundbreaking of a new $50+ million solar manufacturing campus in Bernalillo County, New Mexico, in collaboration with U.S. Energy Secretary Granholm and New Mexico Senators. The facility, supported by the Inflation Reduction Act and state and local investments, aims to create over 300 jobs and strengthen the domestic solar supply chain, marking a significant investment in clean energy and American manufacturing.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:48 pm

U.S. solar manufacturers are pushing for additional tariffs on imported solar products, a move that could significantly impact the solar sector. This request for more tariffs aims to protect domestic solar production but risks causing disruptions in the market, potentially affecting prices, supply chains, and the competitive landscape. The companies involved in the solar industry, including those that manufacture solar panels and related products, as well as those providing solar energy services, could see their stock prices and operations impacted by these proposed tariffs.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 1:51 pm

Mizuho analyst Maheep Mandloi maintains a Neutral rating on Array Technologies (NASDAQ:ARRY) and lowers the price target from $18 to $16.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 5:31 pm

Today's whale activity in the Industrials sector highlighted significant options trading across various companies, indicating potential trading opportunities. Notable trades included bearish calls on DAY and UPS, neutral puts on ARRY and STRL, bearish puts on BA and LYFT, bullish calls on ALK and SNA, and neutral calls on NXT and ETN. These activities suggest diverse market sentiments and potential strategic moves by large investors.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 5:35 pm

Array Technologies (NASDAQ:ARRY) has been analyzed by 12 analysts, showing a mix of bullish to bearish sentiments with a recent shift towards more neutral positions. The average 12-month price target is now $19.67, down from $23.09, indicating a 14.81% decrease. Analyst actions include both upgrades and downgrades, reflecting varied perspectives on the company's performance and market conditions. Despite facing revenue decline and a high debt-to-equity ratio, Array Technologies maintains strong profitability metrics such as net margin and ROE.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 2:01 pm

Piper Sandler analyst Kashy Harrison maintains a Neutral rating on Array Technologies (NASDAQ:ARRY) and raises the price target from $12 to $13.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:42 am

Guggenheim analyst Joseph Osha has maintained a Buy rating on Array Technologies (NASDAQ: ARRY) and increased the price target from $20 to $22.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 1:51 pm

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