ARRY

Exane BNP Paribas Downgrades Array Technologies (ARRY)

Fintel reports that on February 28, 2024, Exane BNP Paribas downgraded their outlook for Array Technologies (NasdaqGM:ARRY) from Neutral to Underperform .

Analyst Price Forecast Suggests 82.90% Upside

As of February 24, 2024, the average one-year price target for Array Technologies is 24.95. The forecasts range from a low of 15.15 to a high of $37.80. The average price target represents an increase of 82.90% from its latest reported closing price of 13.64.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Array Technologies is 2,230MM, an increase of 41.45%. The projected annual non-GAAP EPS is 1.37.

What is the Fund Sentiment?

There are 575 funds or institutions reporting positions in Array Technologies. This is a decrease of 21 owner(s) or 3.52% in the last quarter. Average portfolio weight of all funds dedicated to ARRY is 0.32%, a decrease of 5.49%. Total shares owned by institutions increased in the last three months by 2.48% to 184,602K shares. ARRY / Array Technologies, Inc. Put/Call Ratios The put/call ratio of ARRY is 0.50, indicating a bullish outlook.

What are Other Shareholders Doing?

ARRY / Array Technologies, Inc. Shares Held by Institutions

Hill City Capital holds 8,840K shares representing 5.85% ownership of the company. In it's prior filing, the firm reported owning 4,466K shares, representing an increase of 49.48%. The firm decreased its portfolio allocation in ARRY by 1.37% over the last quarter.

Electron Capital Partners holds 8,198K shares representing 5.42% ownership of the company. In it's prior filing, the firm reported owning 6,124K shares, representing an increase of 25.30%. The firm decreased its portfolio allocation in ARRY by 4.84% over the last quarter.

Frontier Capital Management Co holds 6,872K shares representing 4.54% ownership of the company. In it's prior filing, the firm reported owning 6,276K shares, representing an increase of 8.68%. The firm decreased its portfolio allocation in ARRY by 23.81% over the last quarter.

Norges Bank holds 6,239K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

BNP Paribas Asset Management Holding holds 5,490K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 2,696K shares, representing an increase of 50.88%. The firm increased its portfolio allocation in ARRY by 40.14% over the last quarter.

Array Technologies Background Information
(This description is provided by the company.)

Array Technologies is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world's largest manufacturers of ground-mounted systems. With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. The Company's focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry's best returns. Array Technologies is headquartered in the United States with offices in Europe, Central America, and Australia.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.