What To Know About Wells Fargo's Downgrade of Array Technologies

Wells Fargo downgraded its rating of Array Technologies ARRY to Equal-Weight with a price target of $19.00, changing its price target from $22.00 to $19.00.

Shares of Array Technologies are trading down 0.76% over the last 24 hours, at $14.97 per share.

A move to $19.00 would account for a 26.88% increase from the current share price.

About Array Technologies

Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in the United States, Australia, Spain, Brazil and Rest of the World with the United States deriving the majority of the revenue.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.