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Taking a Closer Look At Array Technologies Inc (ARRY) Following Its Recent Trade

In a filing, Array Technologies Inc revealed 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 $2.09 million.

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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 $0.8 million.

Susquehanna initiated its Array Technologies Inc [ARRY] rating to a Positive in a research note published on June 28, 2024; the price target was $14. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who increased its forecast for the stock in early May from “a Perform” to “an Outperform”. Barclays also remained covering ARRY and has increased its forecast on April 02, 2024 with a “an Overweight” recommendation from previously “an Equal weight” rating. BMO Capital Markets started covering the stock on March 22, 2024. It rated ARRY as “a Market perform”.

Price Performance Review of ARRY

On Tuesday, Array Technologies Inc [NASDAQ:ARRY] saw its stock jump 0.63% to $9.63. Over the last five days, the stock has lost -10.08%. Array Technologies Inc shares have fallen nearly -42.68% since the year began. Nevertheless, the stocks have fallen -57.39% over the past one year. While a 52-week high of $26.64 was reached on 01/02/24, a 52-week low of $9.52 was recorded on 07/02/24. SMA at 50 days reached $12.41, while 200 days put it at $15.05. A total of 6.12 million shares were traded, compared to the trading of 7.34 million shares in the previous session.

Levels Of Support And Resistance For ARRY Stock

The 24-hour chart illustrates a support level at 9.26, which if violated will result in even more drops to 8.88. On the upside, there is a resistance level at 10.09. A further resistance level may holdings at 10.54. The Relative Strength Index (RSI) on the 14-day chart is 27.76, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.91%. Stochastics%K at 4.05% indicates the stock is a buying.

The most recent change occurred on March 05, 2024 when KeyBanc Capital Markets began covering the stock and recommended ‘”a Sector weight”‘ rating.

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