kicked off on Monday, with Array Technologies Inc (NASDAQ: ARRY) stock price down -0.62% from the previous day of trading, before settling in for the closing price of $6.41. ARRY’s price has ranged from $5.56 to $25.14 over the past 52 weeks.
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Annual sales at Technology sector company grew by 48.69% over the past five years. Meanwhile, its annual earnings per share averaged -39.78%. With a float of $149.30 million, this company’s outstanding shares have now reached $151.24 million.
Let’s look at the performance matrix of the company that is accounted for 1028 employees.
Array Technologies Inc (ARRY) Insider Updates
As we move forward, let’s examine how large-scale investors are investing in this stock of the Solar Industry. The insider ownership of Array Technologies Inc is 1.73%, while institutional ownership is 117.07%. The most recent insider transaction that took place on Mar 20 ’24, was worth 100,565. In this transaction Chief Executive Officer of this company sold 8,176 shares at a rate of $12.30, taking the stock ownership to the 217,352 shares.
Array Technologies Inc (ARRY) Performance Highlights and Predictions
In its latest quarterly report, released on 6/30/2024, the company reported earnings of 0.2 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.26 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -39.78% per share during the next fiscal year.
Array Technologies Inc (NASDAQ: ARRY) Trading Performance Indicators
Here are Array Technologies Inc’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 2.02. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 0.88. Likewise, its price to free cash flow for the trailing twelve months is 4.72.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.11, a number that is poised to hit 0.13 in the next quarter and is forecasted to reach 0.95 in one year’s time.
Technical Analysis of Array Technologies Inc (ARRY)
Array Technologies Inc (NASDAQ: ARRY) saw its 5-day average volume 5.67 million, a negative change from its year-to-date volume of 5.84 million. As of the previous 9 days, the stock’s Stochastic %D was 43.80%. Additionally, its Average True Range was 0.51.
During the past 100 days, Array Technologies Inc’s (ARRY) raw stochastic average was set at 8.72%, which indicates a significant decrease from 42.52% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 90.01% in the past 14 days, which was higher than the 78.96% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $8.07, while its 200-day Moving Average is $12.15. Nevertheless, the first resistance level for the watch stands at $6.53 in the near term. At $6.69, the stock is likely to face the second major resistance level. The third major resistance level sits at $6.84. If the price goes on to break the first support level at $6.21, it is likely to go to the next support level at $6.06. Assuming the price breaks the second support level, the third support level stands at $5.90.
Array Technologies Inc (NASDAQ: ARRY) Key Stats
With a market capitalization of 967.79 million, the company has a total of 151,769K Shares Outstanding. Currently, annual sales are 1,577 M while annual income is 137,240 K. The company’s previous quarter sales were 255,770 K while its latest quarter income was 25,700 K.
