Array Technologies, Inc. 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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Is ARRY A Good Stock To Buy?
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.
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ARRY Price Action: According to Benzinga Pro, Array Technologies shares are up 2.44% at $14.47 at the time of publication Wednesday.
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