In a report released today, Colin Rusch from Oppenheimer assigned a Hold rating to Array Technologies (ARRY). The company’s shares closed last Monday at $29.53, close to its 52-week low of $25.71.
According to TipRanks.com, Rusch is a top 25 analyst with an average return of 68.1% and a 64.4% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as American Superconductor, SolarEdge Technologies, and Westport Fuel Systems.
Currently, the analyst consensus on Array Technologies is a Strong Buy with an average price target of $44.25.
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Based on Array Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $181 million and GAAP net loss of $9.77 million. In comparison, last year the company earned revenue of $198 million and had a net profit of $18.19 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARRY in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Array Technologies Inc manufacturers of ground-mounting systems used in solar energy projects. The company’s product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in United States, Australia, and Rest of the World with United States deriving majority of the revenue.
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