Market Recap Check: Array Technologies Inc (ARRY)’s Negative Finish at 12.66, Up/Down -0.78

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The price of Array Technologies Inc (NASDAQ: ARRY) closed at $12.66 in the last session, down -0.78% from day before closing price of $12.76. In other words, the price has decreased by -$0.78 from its previous closing price. On the day, 5.25 million shares were traded. ARRY stock price reached its highest trading level at $13.26 during the session, while it also had its lowest trading level at $12.635.

Ratios:

We take a closer look at ARRY’s different ratios to gain a better understanding of the stock. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 6.68 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 8.81. For the most recent quarter (mrq), Quick Ratio is recorded 2.10 and its Current Ratio is at 2.73. In the meantime, Its Debt-to-Equity ratio is 1.14 whereas as Long-Term Debt/Eq ratio is at 1.10.

On April 02, 2024, Barclays Upgraded its rating to Overweight which previously was Equal Weight and also upped its target price recommendation from $15 to $18.

On March 22, 2024, BMO Capital Markets started tracking the stock assigning a Market Perform rating and target price of $16.BMO Capital Markets initiated its Market Perform rating on March 22, 2024, with a $16 target price.

Insider Transactions:

An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Mar 20 ’24 when Hostetler Kevin G. sold 8,176 shares for $12.30 per share. The transaction valued at 100,565 led to the insider holds 217,352 shares of the business.

Hottinger Tyson sold 7,500 shares of ARRY for $187,825 on Sep 01 ’23. The Chief Legal Officer now owns 69,618 shares after completing the transaction at $25.04 per share. On Aug 14 ’23, another insider, Patel Nipul M., who serves as the Chief Financial Officer of the company, sold 54,593 shares for $23.12 each. As a result, the insider received 1,262,190 and left with 82,827 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 1921395456 and an Enterprise Value of 2698003456. As of this moment, Array’s Price-to-Earnings (P/E) ratio for their current fiscal year is 33.94, and their Forward P/E ratio for the next fiscal year is 9.28. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 2.29. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.42 while its Price-to-Book (P/B) ratio in mrq is 8.31. Its current Enterprise Value per Revenue stands at 1.994 whereas that against EBITDA is 12.521.

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 $10.82. The 50-Day Moving Average of the stock is -2.67%, while the 200-Day Moving Average is calculated to be -24.33%.

Shares Statistics:

According to the various share statistics, ARRY traded on average about 5.98M shares per day over the past 3-months and 6663250 shares per day over the past 10 days. A total of 151.24M shares are outstanding, with a floating share count of 149.14M. Insiders hold about 1.71% of the company’s shares, while institutions hold 114.55% stake in the company. Shares short for ARRY as of 1714435200 were 26118509 with a Short Ratio of 4.37, compared to 1711584000 on 25829194. Therefore, it implies a Short% of Shares Outstanding of 26118509 and a Short% of Float of 19.520001.

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