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

Barclays analyst Christine Cho upgraded Array Technologies (ARRY) from Equal-Weight to Overweight and increased the price target from $15 to $18.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 6:58 pm

Array Technologies, Inc. (NASDAQ:ARRY) shares have risen over 9% in the past five days, following a Market Perform rating and a $16 price target from BMO Capital analyst Ameet Thakkar. Additionally, the company announced its new Hail Response System, designed to protect solar assets from hail damage using advanced weather prediction algorithms. This announcement comes after a severe hail storm destroyed thousands of solar panels in Texas. Wall Street analysts generally view ARRY as Neutral, with expectations of a significant price fall within the year.

Portfolio Pulse from Erica Kollmann

March 27, 2024 | 2:50 pm

Insiders at AutoNation, Array Technologies, Analog Devices, and McDonald's have recently sold shares, indicating potential concerns or views of overvaluation. These sales come amidst various company developments, including earnings reports and analyst ratings.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 12:13 pm

Array Technologies (NASDAQ:ARRY) has seen a diverse range of analyst ratings over the last three months, with a total of 11 analysts providing insights. The average 12-month price target for ARRY has decreased by 18.63% to $20.18. Analysts have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Despite a decline in revenue by -15.04% for the last quarter of 2023, Array Technologies showcases strong profitability with a net margin of 2.86% and exceeds industry averages in ROE and ROA. However, its high debt-to-equity ratio of 2.82 poses potential financial challenges.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 12:01 pm

BMO Capital analyst Ameet Thakkar initiates coverage on Array Technologies (ARRY) with a Market Perform rating and a price target of $16.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 10:11 am

Guess?, Inc. (NYSE:GES) reported Q4 earnings surpassing estimates and declared a special dividend, leading to a 23.1% stock rise. Other stocks like Lufax Holding, Nortech Systems, and Micron Technology also saw significant gains following positive financial results or other favorable news. Notably, Micron Technology's strong Q2 results and Q3 guidance boosted its shares by 14.7%, while argenx SE surged 14.4% after competitors' data fell short.

Portfolio Pulse from Avi Kapoor

March 21, 2024 | 5:58 pm

Keybanc analyst Sophie Karp initiates coverage on Array Technologies (NASDAQ:ARRY) with a Sector Weight rating, indicating a neutral outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:32 am

Butterfly Network, Inc. (BFLY) shares fell by 22% after reporting a larger-than-expected GAAP loss for Q4, despite beating sales estimates. Other stocks experienced significant movements, with Enveric Biosciences, Inc. (ENVB) and Societal CDMO, Inc. (SCTL) among the top gainers, while J-Long Group Limited (JL) and Golden Minerals Company (AUMN) led the losers.

Portfolio Pulse from Avi Kapoor

February 29, 2024 | 7:00 pm

Goldman Sachs analyst Brian Lee maintains a Buy rating on Array Technologies (NASDAQ:ARRY) but lowers the price target from $31 to $27.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:52 pm

Truist Securities analyst Jordan Levy has maintained a Buy rating on Array Technologies (NASDAQ:ARRY) but lowered the price target from $25 to $23.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:06 pm

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