Array TechnologiesARRY
Market Cap: $969M
About: Array Technologies Inc manufacturer 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 the United States, Australia, Spain, Brazil and Rest of the World with the United States deriving the majority of the revenue.
Employees: 1,013
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
317% more call options, than puts
Call options by funds: $94.2M | Put options by funds: $22.6M
24% more repeat investments, than reductions
Existing positions increased: 107 | Existing positions reduced: 86
1% less funds holding
Funds holding: 265 [Q1] → 263 (-2) [Q2]
4% less first-time investments, than exits
New positions opened: 46 | Existing positions closed: 48
8.76% less ownership
Funds ownership: 120.86% [Q1] → 112.1% (-8.76%) [Q2]
20% less funds holding in top 10
Funds holding in top 10: 10 [Q1] → 8 (-2) [Q2]
36% less capital invested
Capital invested by funds: $2.72B [Q1] → $1.75B (-$978M) [Q2]
Research analyst outlook
18 Wall Street Analysts provided 1 year price targets over the past 3 months
18 analyst ratings
Jefferies Julien Dumoulin-Smith 68% 1-year accuracy 32 / 47 met price target | 72%upside $11 | Buy Upgraded | 4 Sept 2024 |
Guggenheim Joseph Osha 59% 1-year accuracy 10 / 17 met price target | 119%upside $14 | Buy Maintained | 16 Aug 2024 |
Scotiabank Tristan Richardson 57% 1-year accuracy 8 / 14 met price target | 88%upside $12 | Sector Outperform Maintained | 16 Aug 2024 |
Truist Securities Jordan Levy 31% 1-year accuracy 13 / 42 met price target | 88%upside $12 | Buy Maintained | 12 Aug 2024 |
Barclays Christine Cho 62% 1-year accuracy 23 / 37 met price target | 72%upside $11 | Overweight Maintained | 12 Aug 2024 |
Financial journalist opinion
Based on 3 articles about ARRY published over the past 30 days