Fintel reports that on June 28, 2024, Susquehanna initiated coverage of Array Technologies (NasdaqGM:ARRY) with a Positive recommendation.
Analyst Price Forecast Suggests 92.27% Upside
As of June 12, 2024, the average one-year price target for Array Technologies is 19.73. The forecasts range from a low of 12.12 to a high of $37.80. The average price target represents an increase of 92.27% from its latest reported closing price of 10.26.
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The projected annual revenue for Array Technologies is 2,230MM, an increase of 64.80%. The projected annual non-GAAP EPS is 1.37.
What is the Fund Sentiment?
There are 547 funds or institutions reporting positions in Array Technologies. This is an decrease of 27 owner(s) or 4.70% in the last quarter. Average portfolio weight of all funds dedicated to ARRY is 0.31%, an increase of 0.28%. Total shares owned by institutions increased in the last three months by 4.82% to 193,799K shares. The put/call ratio of ARRY is 0.44, indicating a bullish outlook.
What are Other Shareholders Doing?
Hill City Capital holds 11,300K shares representing 7.45% ownership of the company. In its prior filing, the firm reported owning 8,840K shares , representing an increase of 21.77%. The firm decreased its portfolio allocation in ARRY by 5.35% over the last quarter.
Schroder Investment Management Group holds 6,953K shares representing 4.58% ownership of the company. In its prior filing, the firm reported owning 4,996K shares , representing an increase of 28.14%. The firm decreased its portfolio allocation in ARRY by 76.04% over the last quarter.
Frontier Capital Management Co holds 5,671K shares representing 3.74% ownership of the company. In its prior filing, the firm reported owning 6,872K shares , representing a decrease of 21.18%. The firm decreased its portfolio allocation in ARRY by 32.24% over the last quarter.
Sourcerock Group holds 4,848K shares representing 3.19% ownership of the company. In its prior filing, the firm reported owning 4,407K shares , representing an increase of 9.08%. The firm decreased its portfolio allocation in ARRY by 20.56% over the last quarter.
BNP Paribas Asset Management Holding holds 4,633K shares representing 3.05% ownership of the company. In its prior filing, the firm reported owning 5,490K shares , representing a decrease of 18.49%. The firm decreased its portfolio allocation in ARRY by 28.52% 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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