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Wednesday, October 5, 2022

Momentum Is Strong For Array Technologies Inc. (NASDAQ: ARRY)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for Array Technologies Inc. (ARRY) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.38, or -2.09%, to $17.79. Volume reached 24,522 shares, with price reaching a high of $18.15 and a low of $17.65. Earlier, Yahoo Finance discussed this stock as it revealed Array Technologies Launches Two New Utility-Scale Solar Tracker Systems to the U.S. Market: Providing Domestically Sourced Solutions that Meet Customer Demands.

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Stocks Info

This NASDAQ-listed company operates within the Solar industry segment, falling under the Technology sector. At the end of the last regular session, the stock closed at $18.15 and fluctuated between $19.07 as its day high and $17.60 as its day low. The current market capitalization of Array Technologies Inc. is $2.76B. A total of 2.81 million shares were traded on the day, compared to an average of 4.57M shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, ARRY has seen 1 BUY and 1 SELL insider trades, representing the acquisition of 4,560 and the disposition of 5,776 shares. Over the last 12 months, there were 22 BUYs and 3 SELLs from insiders. Insiders purchased 386,907 shares during that period but sold 16,193.

In the most recent transaction, Stacherski Kenneth R. sold 1,327 shares of ARRY for 18.39 per share on Sep 19. After the transaction, the Chief Operations Officer now owns 99,902 company shares. In a previous transaction on Aug 26, Schmid Gerrard bought 7,000 shares at 21.66 per share. ARRY shares that Director owns now total 41,269.

Among the insiders who bought shares, Patel Nipul M. acquired of 4,560 shares on Aug 16 at a per-share price of $21.95. This resulted in the Chief Financial Officer holding 108,629 shares of ARRY after the transaction. In another insider transaction, Stacherski Kenneth R. sold 5,776 shares at $11.33 per share on Jul 19. Company shares held by the Chief Operations Officer now total 99,658.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for ARRY in the last 3 months, the mean price target is $26.77 with high estimates of $35.00 and low estimates of $17.00. In terms of 52-week highs and lows, ARRY has a high of $27.67 and a low of $5.45.

As of this writing, ARRY has an earnings estimate of $0.1 per share for the current quarter. EPS was calculated based on a consensus of 8 estimates, with a high estimate of $0.15 per share and a lower estimate of $0.05. The company reported an EPS of $0.06 in the last quarter, which was 200% higher than expectations of $0.02.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 14 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for ARRY is Hold with a score of 4.18. A total of 9 analysts rated the stock as Buy while 1 rated it as Overweight while 3 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 1 thought it should be Sold.

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