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Array Technologies, Inc. (NASDAQ:ARRY) shares are trading higher Wednesday, and the stock is up more than 9% over the past five days. Here's a look at what to know.
What To Know:
BMO Capital analyst Ameet Thakkar initiated coverage on Array Technologies with a Market Perform rating and announced a price target of $16 on the stock last Friday.
Array Technologies announced its new Hail Response System on Wednesday. The Hail Response System is a set of software features designed to autonomously protect solar assets from hail damage by leveraging advanced weather prediction algorithms to preemptively stow solar trackers approximately 30 minutes before a predicted hail event.
The company's new product announcement comes on the heels of a severe hail storm that destroyed thousands of solar panels at a farm outside of Houston, Texas over the weekend.
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Wall Street analysts view Array Technologies on the whole as a Neutral, given the history of coverage over the past three months. Kashy Harrison from Piper Sandler in Array Technologies is the most bearish, expecting a 45.45% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Array Technologies fell 15.47%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 15.04% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.
ARRY Price Action: According to Benzinga Pro, Array Technologies shares are up 2.44% at $14.47 at the time of publication Wednesday.
Image: Andreas from Pixabay
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