Reflections On The Past For Investors Today: Array Technologies Inc (NASDAQ: ARRY)

Array Technologies Inc (NASDAQ:ARRY) does about 5.98M shares in volume on a normal day but saw 5253201 shares change hands in Monday’s trading. The company now has a market cap of 1.92B USD. Its current market price is $12.66, marking a decrease of -0.78% compared to the previous close of $12.76. The 52 week high reached by this stock is $26.64 whilst the lowest price level in 52 weeks is $10.82.

Array Technologies Inc (ARRY) has a 20-day trading average at $12.32 and the current price is -52.48% off the 52-week high compared with 17.01% distance from its 52-week low. The 50-day simple moving average of the closing price is $12.98 and its 200-day simple moving average is $16.70. If we look at the stock’s price movements over the week, volatility stands at 7.42%, which decreases to 6.17% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 48.30 to suggest the stock is neutral.

The consensus objective for the share price is $19.91, suggesting that the stock has a potential upside of 36.41% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on May 10, 2024 when Oppenheimer upgraded the stock to “Outperform” and issued a price target of $20. Barclays also upgraded the stock to “Overweight” from Equal Weight on April 02, 2024 at a price target of $15-$18. BMO Capital Markets initiated its price target at $16.

Array Technologies Inc (ARRY) stock is down -7.86% over the week and -2.16% over the past month. Its price is -24.64% year-to-date and -33.16% over the past year.

To reach the target analysts have set, the stock logically needs to grow 36.41 percent from here.

The company has a return on investment of 4.53% and return on equity of 19.64%. The price to earnings ratio (P/E ratio) amounts to 33.94 while the forward price to earnings ratio is 9.28. The beta has a value of 1.69. Price to book ratio is 8.31 and price to sales ratio is 1.42.