Monitor The Insider Activity Of Array Technologies Inc. (ARRY)


As of Wednesday close, Array Technologies Inc.’s (NASDAQ:ARRY) stock was up $1.25, moving up 5.78 percent to $22.87. The average number of shares traded per day over the past five days has been 4,116,240 shares. 5 times new highs have been achieved over the past 5 days, with a $2.21 gain in that time frame. In the last twenty days, the average volume was 4,500,375, while in the previous 50 days, it was 3,848,634.

Since last month, ARRY stock rose 42.67%. Shares of the company fell to $14.64 on 10/24/22, the lowest level in the past month. A 52-week high of $24.45 was reached on 08/11/22 after having rallying from a 52-week low of $5.45. Since the beginning of this year, ARRY’s stock price has risen by 45.76% or $7.18, and marked a new high 9 times. However, the stock has declined by -6.46% since its 52-week high.

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ARRY stock investors should be aware that Array Technologies Inc. (ARRY) stock had its last reported insider trading activity 9 days ago on Nov 16. Hottinger Tyson, the Chief Legal Officer of the company, disposed of 8,500 shares for $20.74 on Nov 16. It resulted in a $176,292 divestment by the insider. Stacherski Kenneth R. sold 1,327 shares at an average price of $18.39 on Sep 19. The insider now owns 99,902 shares following the transaction. On Aug 26, Director Schmid Gerrard bought 7,000 shares at $21.66 apiece. The transaction was valued at $151,650.

Financial Health

In the three months ended June 29, Array Technologies Inc.’s quick ratio stood at 1.20, while its current ratio was 1.70, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 11.73, and the total debt-to-equity ratio was 12.50. On the profitability front, the trailing twelve-month gross margin is 10.80% percent. In the year ended June 29, operating margins totaled -1.00%. Based on annual data, ARRY earned $82.86 million in gross profit and brought in $853.32 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -2.20%. Return on equity (ROE) for the past 12 months was -134.30%.

In Array Technologies Inc.’s quarter-end financial report for June 29, it reported total debt of $725.11 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. ARRY’s revenue rose 60.62% to $419.87 million during the quarter, while net income inched up to $515.02 million. While analysts expected Array Technologies Inc. to report $0.03 quarterly earnings, the actual figure was $0.09 per share. During the quarter, the company generated $43.87 million in EBITDA. The liabilities of Array Technologies Inc. were 1.62 billion at the end of its most recent quarter ended June 29, and its total debt was $861.72 million. The value of shareholders’ equity is $150.49 million.

Technical Picture

This quick technical analysis looks at Array Technologies Inc.’s (ARRY) price momentum. With a historical volatility rate of 65.20%, the RSI 9-day stood at 74.78% on 23 November.

With respect to its five-day moving average, the current Array Technologies Inc. price is up by +10.70% percent or $2.21. At present, ARRY shares trade +39.88% above its 20-day simple moving average and +105.11% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.98% above its SMA50 and +134.32% above its SMA200.

Stochastic coefficient K was 89.22% and Stochastic coefficient D was 81.21%, while ATR was 1.59. Given the Stochastic reading of 97.83% for the 14-day period, the RSI (14) reading has been calculated as 69.45%. As of today, the MACD Oscillator reading stands at 0.96, while the 14-day reading stands at 2.02.

Analyst Ratings

Piper Sandler upgraded its rating on Array Technologies Inc. (NASDAQ: ARRY) to an Overweight in a note to investors on September 19, 2022. The analysts firm previously had a Neutral rating on the stock.Array Technologies Inc. (ARRY) has been rated Overweight by analysts. According to 1 brokerage firm, ARRY is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Array Technologies Inc. stock as buy, with 8 recommending it as overweight.

With a median target price of $29.00, the current consensus forecast for the stock is $16.00 – $36.00. Based on these forecasts, analysts predict Array Technologies Inc. (ARRY) will achieve an average price target of $27.08.


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