In the latest session, Array Technologies Inc (NASDAQ: ARRY) closed at $13.15 up 2.21% from its previous closing price of $12.87. In other words, the price has increased by $+0.28 from its previous closing price. On the day, 3337632 shares were traded. ARRY stock price reached its highest trading level at $13.30 during the session, while it also had its lowest trading level at $12.73.
Ratios:
For a deeper understanding of Array Technologies Inc’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.99 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 9.26. For the most recent quarter (mrq), Quick Ratio is recorded 2.00 and its Current Ratio is at 2.48. In the meantime, Its Debt-to-Equity ratio is 1.16 whereas as Long-Term Debt/Eq ratio is at 1.11.
On February 28, 2024, TD Cowen reiterated its Market Perform rating and also upped its target price recommendation from $22.50 to $16.50.
Exane BNP Paribas Downgraded its Neutral to Underperform on February 28, 2024, while the target price for the stock was maintained at $12.
Insider Transactions:
Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Sep 01 ’23 when Hottinger Tyson sold 7,500 shares for $25.04 per share. The transaction valued at 187,825 led to the insider holds 69,618 shares of the business.
Patel Nipul M. sold 54,593 shares of ARRY for $1,262,190 on Aug 14 ’23. The Chief Financial Officer now owns 82,827 shares after completing the transaction at $23.12 per share. On Aug 11 ’23, another insider, Hottinger Tyson, who serves as the Chief Legal Officer of the company, sold 8,500 shares for $23.32 each. As a result, the insider received 198,220 and left with 77,118 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, ARRY now has a Market Capitalization of 1.95B and an Enterprise Value of 2.78B. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 24.46, and their Forward P/E ratio for the next fiscal year is 9.13. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 1.64. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.26 while its Price-to-Book (P/B) ratio in mrq is 7.67. Its current Enterprise Value per Revenue stands at 1.76 whereas that against EBITDA is 10.06.
Stock Price History:
Over the past 52 weeks, ARRY has reached a high of $26.64, while it has fallen to a 52-week low of $12.52. The 50-Day Moving Average of the stock is 14.44, while the 200-Day Moving Average is calculated to be 18.72.
Shares Statistics:
For the past three months, ARRY has traded an average of 5.97M shares per day and 8.24M over the past ten days. A total of 151.24M shares are outstanding, with a floating share count of 148.06M. Insiders hold about 2.13% of the company’s shares, while institutions hold 116.81% stake in the company. Shares short for ARRY as of Feb 15, 2024 were 25.34M with a Short Ratio of 4.24, compared to 24.65M on Jan 12, 2024. Therefore, it implies a Short% of Shares Outstanding of 16.75% and a Short% of Float of 18.89%.
Earnings Estimates
There are 20 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.01 for the current quarter, with a high estimate of $0.22 and a low estimate of -$0.08, while EPS last year was $0.25. The consensus estimate for the next quarter is $0.17, with high estimates of $0.27 and low estimates of $0.08.
Analysts are recommending an EPS of between $1.35 and $1 for the fiscal current year, implying an average EPS of $1.08. EPS for the following year is $1.46, with 20 analysts recommending between $2.2 and $1.02.
Revenue Estimates
A total of 20 analysts believe the company’s revenue will be $170.47M this quarter.It ranges from a high estimate of $396M to a low estimate of $135M. As of the current estimate, Array Technologies Inc’s year-ago sales were $376.77M, an estimated decrease of -54.80% from the year-ago figure. For the next quarter, 20 analysts are estimating revenue of $287.93M, a decrease of -43.30% over than the figure of -$54.80% in the same quarter last year. There is a high estimate of $521M for the next quarter, whereas the lowest estimate is $216.5M.
A total of 24 analysts have provided revenue estimates for ARRY’s current fiscal year. The highest revenue estimate was $2.06B, while the lowest revenue estimate was $1.29B, resulting in an average revenue estimate of $1.39B. In the same quarter a year ago, actual revenue was $1.58B, down -12.10% from the average estimate. Based on 23 analysts’ estimates, the company’s revenue will be $1.74B in the next fiscal year. The high estimate is $2.27B and the low estimate is $1.41B. The average revenue growth estimate for next year is up 25.60% from the average revenue estimate for this year.
