Array Technologies Inc (ARRY) looking to reclaim success with recent performance

With 4.48 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.81 shares. The 52-week range on ARRY shows that it touched its highest point at $26.64 and its lowest point at $12.52 during that stretch. It currently has a 1-year price target of $24.29. Beta for the stock currently stands at 1.68.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ARRY was up-trending over the past week, with a rise of 11.26%, but this was up by 2.77% over a month. Three-month performance surged to 1.40% while six-month performance fell -32.39%. The stock lost -26.86% in the past year, while it has lost -9.40% so far this year. A look at the trailing 12-month EPS for ARRY yields 0.38 with Next year EPS estimates of 1.28. For the next quarter, that number is 0.11. This implies an EPS growth rate of 170.73% for this year and 24.44% for next year. EPS is expected to grow by 44.60% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 11.68%.

Float and Shares Shorts:

At present, 150.51 million ARRY shares are outstanding with a float of 146.74 million shares on hand for trading. On Jan 31, 2024, short shares totaled 25.96 million, which was 17.17% higher than short shares on Dec 29, 2023. In addition to ARR as the firm’s ARMOUR Residential REIT, Inc., ARRY serves as its Array Technologies, Inc..

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ARRY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ARRY analysts setting a high price target of $36.00 and a low target of $15.00, the average target price over the next 12 months is $24.29. Based on these targets, ARRY could surge 136.53% to reach the target high and fall by -1.45% to reach the target low. Reaching the average price target will result in a growth of 59.59% from current levels.

Summary of Insider Activity:

Insiders traded ARRY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 380,240 while 112,658 shares were sold.