Array Technologies Inc’s recent filing unveils that its Chief Executive Officer Hostetler Kevin G. unloaded Company’s shares for reported $0.1 million on Mar 20 ’24. In the deal valued at $12.30 per share,8,176 shares were sold. As a result of this transaction, Hostetler Kevin G. now holds 217,352 shares worth roughly $3.16 million.
Then, Hottinger Tyson sold 7,500 shares, generating $187,825 in total proceeds. Upon selling the shares at $25.04, the Chief Legal Officer now owns 69,618 shares.
Before that, Patel Nipul M. sold 54,593 shares. Array Technologies Inc shares valued at $1,262,190 were divested by the Chief Financial Officer at a price of $23.12 per share. As a result of the transaction, Patel Nipul M. now holds 82,827 shares, worth roughly $1.2 million.
Barclays upgraded its Array Technologies Inc [ARRY] rating to an Overweight from a an Equal weight in a research note published on April 02, 2024; the price target was increased to $18 from $15. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in late March with a ‘”a Market perform”‘ rating. KeyBanc Capital Markets began covering ARRY with “Sector weight” recommendation on March 05, 2024. TD Cowen maintained its rating on February 28, 2024. It rated ARRY as “a Market perform”.
Price Performance Review of ARRY
On Tuesday, Array Technologies Inc [NASDAQ:ARRY] saw its stock jump 3.79% to $14.53. Over the last five days, the stock has gained 2.40%. Array Technologies Inc shares have fallen nearly -13.51% since the year began. Nevertheless, the stocks have fallen -25.98% over the past one year. While a 52-week high of $26.64 was reached on 01/02/24, a 52-week low of $11.38 was recorded on 03/18/24. SMA at 50 days reached $13.70, while 200 days put it at $17.62. A total of 2.76 million shares were traded, compared to the trading of 3.88 million shares in the previous session.
Levels Of Support And Resistance For ARRY Stock
The 24-hour chart illustrates a support level at 14.13, which if violated will result in even more drops to 13.73. On the upside, there is a resistance level at 14.82. A further resistance level may holdings at 15.11. The Relative Strength Index (RSI) on the 14-day chart is 57.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.75%. Stochastics %K at 66.07% indicates the stock is a holding.
How much short interest is there in Array Technologies Inc?
A steep rise in short interest was recorded in Array Technologies Inc stocks on Mar 15, 2024, dropping by -0.53 million shares to a total of 24.81 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 25.34 million shares. There was a decline of -2.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 18.49% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.85.
