Array Technologies (ARRY, Financial) experienced a significant stock movement, with shares rising by 5.03%, reaching $7.00. The trading volume was 2.3 million shares, with a turnover rate of 1.51% and a volatility of 4.43%. Recent financial reports show the company generated $231 million in revenue, but posted a net loss of $141 million, translating to an earnings per share of -$1.02. The gross profit was $69.44 million, and the price-to-earnings ratio stands at -7.13.
In terms of analyst ratings, 56% of the 25 firms covering the stock recommend buying, 40% suggest holding, and 4% advise selling. Within the solar industry, where Array Technologies operates, the overall growth was flat. However, related stocks like Vast Renewables Limited, Solaredge Technologies, Inc., and Solarmax Technology Inc. showed significant gains. Solaredge Technologies, Inc., Maxeon Solar Technologies, Ltd., and Vivopower International Plc were notably active with turnover rates of 7.41%, 5.95%, and 5.74% respectively. Stocks with substantial volatility included Solarmax Technology Inc., Vivopower International Plc, and Solaredge Technologies, Inc., with amplitudes of 19.83%, 15.18%, and 15.04%.
Array Technologies specializes in manufacturing ground-mounted systems used in solar projects. Their main product, a single-axis tracker, integrates steel supports, motors, gearboxes, and electronic controllers to optimize solar panel orientation throughout the day, enhancing energy output. The company operates primarily in the U.S., with additional markets in Australia, Spain, Brazil, and other regions globally.
