Array Technologies Inc (NASDAQ:ARRY) traded at $12.40 at close of the session on Friday, April 26, made an upward move of 3.85% on its previous day’s price.
Looking at the stock we see that its previous close was $11.94 . The company has a trailing 12-month PE ratio of 23.05. In terms of its 52-week price range, ARRY has a high of $26.64 and a low of $10.82. The company’s stock has lost about -17.88% over that past 30 days.
Array Technologies Inc has a market cap of $1.88 billion. Estimates by analysts give the company expected earnings per share (EPS) of -$0.03, with the EPS growth for the year raised at $1.07 for 2024 and $1.43 for next year. These figures represent -5.30% and 33.60% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $140.11 million, with a low of $135 million and a high of $144.7 million. The median projection represents growth adding up to -62.80% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $1.34 billion, or -15.20% down from figures reported last year.
On the other hand, looking at the outlook for the ARRY stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.
Looking further, we note that the PEG ratio for the ARRY stock currently stands at 1.56, and the current price level is -4.96% off its SMA20 and -6.55% from its 50-day simple moving average. The RSI (14) is pointing at 46.59 while the volatility over the past week is 6.65% and jumps to 5.78% over the past one month. The beta value is 1.70, while the average true range (ATR) is currently pointing at 0.77.
Coming back to Array Technologies Inc (NASDAQ:ARRY), we note that the average 3-month trading volume was 5.79 million. Current shares outstanding are 151.24 million.
The insiders hold 2.05% of the company’s shares while institutions hold 115.94%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -26.19% down in year-to-date price movement.
