Array Technologies (ARRY)

• Market cap: $855M
• 1 day: 5.43%
• 5 days: 2.93%
• 1 month: -11.62%
• 3 months: -12.17%
• 6 months: -54.34%
• Year to date: -66.80%
• 1 year: -66.21%
• 5 years: -84.55%
• 10 years: -84.55%
• Sector: Industrials
• Industry: Miscellaneous Manufacturing Industries

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: 961

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

417% more call options, than puts

Call options by funds: $81.8M | Put options by funds: $15.8M

23% more repeat investments, than reductions

Existing positions increased: 100 | Existing positions reduced: 81

2% more funds holding

Funds holding: 268 [Q2] → 273 (+5) [Q3]

10% more first-time investments, than exits

New positions opened: 57 | Existing positions closed: 52

0.24% more ownership

Funds ownership: 116.02% [Q2] → 116.26% (+0.24%) [Q3]

35% less capital invested

Capital invested by funds: $1.81B [Q2] → $1.18B (-$628M) [Q3]

50% less funds holding in top 10

Funds holding in top 10: 8 [Q2] → 4 (-4) [Q3]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $6 7% upside
• Avg. target: $10.10 79% upside
• High target: $15 166% upside

10 analyst ratings

• positive: 7 70%
• neutral: 3 30%
• negative: 0 0%

Goldman Sachs Brian Lee 38% 1-year accuracy 31 / 81 met price target	95% upside $11	Buy Maintained	17 Dec 2024
Susquehanna Biju Perincheril 21% 1-year accuracy 15 / 71 met price target	60% upside $9	Positive Maintained	12 Nov 2024
UBS Jon Windham 28% 1-year accuracy 5 / 18 met price target	78% upside $10	Buy Maintained	8 Nov 2024
Roth MKM Philip Shen 5% 1-year accuracy 1 / 19 met price target	7% upside $6	Neutral Maintained	8 Nov 2024
JP Morgan Paul Coster 0% 1-year accuracy 0 / 5 met price target	166% upside $15	Overweight Maintained	8 Nov 2024