Array Technologies Inc (NASDAQ:ARRY) shares, rose in value, with the stock price down by -4.01% to the previous day’s close as strong demand from buyers drove the stock to $6.22.
Actively observing the price movement in the last trading, the stock closed the session at $6.48, falling within a range of $6.21 and $6.63. The value of beta (5-year monthly) was 1.621 whereas the PE ratio was 56.75 over 12-month period. Referring to stock’s 52-week performance, its high was $20.15, and the low was $5.56. On the whole, ARRY has fluctuated by -8.53% over the past month.
With the market capitalization of Array Technologies Inc currently standing at about $944.98 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Nov-07.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ARRY’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 5.73, with the price of ARRY currently trading nearly -5.73% and -5.62% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 43.60, while the 7-day volatility ratio is showing 6.24% which for the 30-day chart, stands at 6.14%. Furthermore, Array Technologies Inc (ARRY)’s beta value is 1.62, and its average true range (ATR) is 0.41.
A comparison of Array Technologies Inc (ARRY) with its peers suggests the former has fared considerably weaker in the market. ARRY showed an intraday change of -4.01% in last session, and over the past year, it shrunk by -63.80%%.
Data on historical trading for Array Technologies Inc (NASDAQ:ARRY) indicates that the trading volumes over the past 10 days have averaged 5.08 and over the past 3 months, they’ve averaged 5.87 million. According to company’s latest data on outstanding shares, there are 151.24 million shares outstanding.
Nearly 1.66% of Array Technologies Inc’s shares belong to company insiders and institutional investors own 117.38% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 32.47 million shares as on 2024-10-15, resulting in a short ratio of 6.76. According to the data, the short interest in Array Technologies Inc (ARRY) stood at 2423.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 29.89 million. The stock has fallen by -62.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ARRY stock heading into the next quarter.
