Array Technologies Inc (NASDAQ: ARRY) on November 20, 2023, started off the session at the price of $15.45, soaring 4.29% from the previous trading day. During the day, the shares moved up to $16.135 and dropped to $15.16 before settling in for the closing price of $15.16. Within the past 52 weeks, ARRY’s price has moved between $13.34 and $26.64.
Annual sales at Technology sector company grew by 61.80% over the past five years. The company achieved an average annual earnings per share of 170.14%. With a float of $146.64 million, this company’s outstanding shares have now reached $150.51 million.
Let’s look at the performance matrix of the company that is accounted for 1082 employees. In terms of profitability, gross margin is +7.82, operating margin of -1.04, and the pretax margin is -0.30.
Array Technologies Inc (ARRY) Insider and Institutional Ownership
Observing investor behavior towards Solar industry stocks is more important than anything else. The insider ownership of Array Technologies Inc is 3.03%, while institutional ownership is 115.31%. The most recent insider transaction that took place on Sep 01, was worth 187,825. In this transaction Chief Legal Officer of this company sold 7,500 shares at a rate of $25.04, taking the stock ownership to the 69,618 shares. Before that another transaction happened on Aug 14, when Company’s Chief Financial Officer sold 54,593 for $23.12, making the entire transaction worth $1,262,190. This insider now owns 82,827 shares in total.
Array Technologies Inc (ARRY) Latest Financial update
As on 9/29/2023, Multinational firm has announced its last quarter scores, in which it reported $0.2 earnings per share (EPS) for the period topping the consensus outlook (set at $0.12) by $0.08. This company achieved a net margin of +0.27 while generating a return on equity of 1.50. Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.22 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 170.14% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 44.60% during the next five years compared to 11.68% growth over the previous five years of trading.
Array Technologies Inc (NASDAQ: ARRY) Trading Performance Indicators
Array Technologies Inc (ARRY) is currently performing well based on its current performance indicators. A quick ratio of 1.62 was reported for the most recent quarter. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.46. Likewise, its price to free cash flow for the trailing twelve months is 10.87.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.38, a number that is poised to hit 0.12 in the next quarter and is forecasted to reach 1.31 in one year’s time.
Technical Analysis of Array Technologies Inc (ARRY)
Array Technologies Inc (NASDAQ: ARRY) saw its 5-day average volume 4.92 million, a positive change from its year-to-date volume of 4.8 million. As of the previous 9 days, the stock’s Stochastic %D was 53.42%. Additionally, its Average True Range was 1.19.
During the past 100 days, Array Technologies Inc’s (ARRY) raw stochastic average was set at 18.57%, which indicates a significant decrease from 44.27% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 104.65% in the past 14 days, which was higher than the 72.54% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $19.55, while its 200-day Moving Average is $20.54. Nevertheless, the first resistance level for the watch stands at $16.24 in the near term. At $16.68, the stock is likely to face the second major resistance level. The third major resistance level sits at $17.22. If the price goes on to break the first support level at $15.27, it is likely to go to the next support level at $14.73. The third support level lies at $14.29 if the price breaches the second support level.
Array Technologies Inc (NASDAQ: ARRY) Key Stats
Market capitalization of the company is 2.39 billion based on 151,216K outstanding shares. Right now, sales total 1,638 M and income totals 4,430 K. The company made 350,440 K in profit during its latest quarter, and 23,210 K in sales during its previous quarter.