Array Technologies Inc. (ARRY): What Technical Indicators Show

Array Technologies Inc. (NASDAQ:ARRY) saw an upside of 5.98% on Monday to $19.49 after adding $1.1. The 5-day average trading volume is 1,712,637 shares of the company’s common stock. It has gained $19.91 in the past week. An average of 2,012,774 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,757,142.

ARRY’s 1-month performance is -2.44% or $1.95 on its low of $16.41 reached on 10/06/21. The company’s shares have touched a 52-week low of $12.72 and high of $54.78. YTD, ARRY has lost -57.37% or -$23.56. However, the current price is down -64.42%% from the 52-week high price.


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Insider Transactions

On Dec 07, 308 days have gone by since the last insider trading activity for Array Technologies Inc. (ARRY). ATI Investment Parent, LLC (10% Owner) most recently sold 36,656,250 shares at $33.95 per share on Dec 07. This transaction cost the insider $1,244,479,688.

Valuation Metrics

Array Technologies Inc. (ARRY) has a trailing price-to-earnings (P/E) ratio of 31.10 for the broader industry and 37.31 for the sector. The company’s PE ratio for the last five years has touched a high of 110.47 and a low of 45.27. ARRY stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.00.

Array Technologies Inc.’s quick ratio for the period ended June 29 was 1.10, with the current ratio over the same period at 2.00 meaning that ARRY stock is able to fulfill its debt obligations. In terms of profitability, the gross margin trailing 12 months is 17.30%. The trailing 12-month EBITDA margin is 17.31% while for the period ending June 29; Array Technologies Inc.’s operating margin was 1.50%. The firm’s gross profit as reported stood at $202.8 million against revenue of $872.66 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected ARRY to announce $0.01 per share in earnings in its latest quarter, but it posted $0.07, representing a 600.00% surprise. EBITDA for the quarter stood at more than $13.72 million. ARRY stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 690.93 million, with total debt at $508.85 million. Shareholders hold equity totaling $127.0 million

Technical Picture

Let’s look briefly at Array Technologies Inc. (ARRY) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 66.20% to suggest the stock is trending Neutral, with historical volatility in this time period at 64.93%.

The stock’s 5-day moving average is $18.01, reflecting a +16.52% or $2.78 change from its current price. ARRY is currently trading +3.03% above its 20-day SMA, +34.35% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +44.57% and -56.60% respectively.

Stochastic %K and %D was 78.32% and 56.85% and the average true range (ATR) pointed at 1.06. The RSI (14) points at 61.17%, while the 14-day stochastic is at 90.44% with the period’s ATR at 1.02. The stock’s 9-day MACD Oscillator is pointing at 0.81 and 0.83 on the 14-day charts.

Analyst Ratings

Analysts offering their rating for ARRY stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate ARRY as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.

What is ARRY’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $16.00 and a high of $36.00, with their median price target at $25.00. Looking at these predictions, the average price target given by analysts is for Array Technologies Inc. (ARRY) stock is $24.55.

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