Fintel reports that on September 28, 2023, Barclays maintained coverage of Array Technologies (NASDAQ:ARRY) with a Overweight recommendation.
Analyst Price Forecast Suggests 30.33% Upside
As of August 31, 2023, the average one-year price target for Array Technologies is 30.24. The forecasts range from a low of 16.16 to a high of $39.90. The average price target represents an increase of 30.33% from its latest reported closing price of 23.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Array Technologies is 1,961MM, an increase of 8.85%. The projected annual non-GAAP EPS is 1.00.
What is the Fund Sentiment?
There are 570 funds or institutions reporting positions in Array Technologies. This is an increase of 12 owner(s) or 2.15% in the last quarter. Average portfolio weight of all funds dedicated to ARRY is 0.29%, a decrease of 0.74%. Total shares owned by institutions increased in the last three months by 2.74% to 168,956K shares. 
The put/call ratio of ARRY is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
Frontier Capital Management Co holds 7,054K shares representing 4.67% ownership of the company. In it's prior filing, the firm reported owning 6,569K shares, representing an increase of 6.87%. The firm increased its portfolio allocation in ARRY by 2.76% over the last quarter.
Electron Capital Partners holds 5,390K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 4,210K shares, representing an increase of 21.89%. The firm increased its portfolio allocation in ARRY by 31.37% over the last quarter.
Invesco holds 4,708K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 4,654K shares, representing an increase of 1.15%. The firm increased its portfolio allocation in ARRY by 960.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,453K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 4,403K shares, representing an increase of 1.11%. The firm decreased its portfolio allocation in ARRY by 3.63% over the last quarter.
BNP Paribas Asset Management Holding holds 4,027K shares representing 2.67% ownership of the company. In it's prior filing, the firm reported owning 5,026K shares, representing a decrease of 24.79%. The firm increased its portfolio allocation in ARRY by 26.96% 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.
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