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Wednesday, February 1, 2023

Is Array Technologies Inc. (NASDAQ: ARRY) No Longer A Good Investment?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Array Technologies Inc. (ARRY) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.12, or -0.55%, to $21.70. The Array Technologies Inc. has recorded 48,312 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Array Technologies, Inc. Reports Financial Results for the Third Quarter 2022 – Delivers record revenue of $515 million and the fourth consecutive quarter of gross margin improvement.

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Stocks Info

ARRY belongs to the Technology sector of the NASDAQ while operating in the Solar industry. At the end of the last regular session, the stock closed at $21.82 and fluctuated between $22.72 as its day high and $21.15 as its day low. The current market capitalization of Array Technologies Inc. is $3.22B. A total of 4.41 million shares were traded on the day, compared to an average of 3.93M shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, ARRY has seen 0 BUY and 2 SELL insider trades, representing the acquisition of 0 and the disposition of 8,500 shares. Over the last 12 months, there were 22 BUYs and 7 SELLs from insiders. Insiders purchased 377,143 shares during that period but sold 27,234.

In the most recent transaction, Hottinger Tyson sold 8,500 shares of ARRY for 20.74 per share on Nov 16. After the transaction, the Chief Legal Officer now owns 75,547 company shares. In a previous transaction on Sep 19, Stacherski Kenneth R. sold 1,327 shares at 18.39 per share. ARRY shares that Chief Operations Officer owns now total 99,902.

Among the insiders who bought shares, Schmid Gerrard acquired of 7,000 shares on Aug 26 at a per-share price of $21.66. This resulted in the Director holding 41,269 shares of ARRY after the transaction. In another insider transaction, Patel Nipul M. bought 4,560 shares at $21.95 per share on Aug 16. Company shares held by the Chief Financial Officer now total 108,629.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for ARRY in the last 3 months, the mean price target is $26.94 with high estimates of $36.00 and low estimates of $16.00. In terms of 52-week highs and lows, ARRY has a high of $24.59 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 13 estimates, with a high estimate of $0.17 per share and a lower estimate of -$0.02. The company reported an EPS of -$0.02 in the last quarter, which was 66.70% higher than expectations of -$0.06.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information.

Analysts Opinion

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. Currently, 16 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 Underweight with a score of 4.36. A total of 11 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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