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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.

Array Technologies Inc

21 analysts have expressed a variety of opinions on Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $12.17, with a high estimate of $22.00 and a low estimate of $7.00. A negative shift in sentiment is evident as analysts have decreased the average price target by 28.33%. 
<img src="https://www.benzinga.com/files/images/story/2024/1729623616_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The standing of Array Technologies among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$7.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$20.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$10.00</td>
<td>$12.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$9.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$10.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$11.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$12.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$11.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Jeffrey Osborne</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$11.50</td>
<td>$16.50</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$16.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$11.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Philip Shen</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$20.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Array Technologies. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Array Technologies compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Array Technologies's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
Capture valuable insights into Array Technologies's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ARRY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Array Technologies analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>About Array Technologies</h2>
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.
<h3>Key Indicators: Array Technologies's Financial Health</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: Array Technologies's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -49.63%. This indicates a decrease in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Array Technologies's net margin is impressive, surpassing industry averages. With a net margin of 4.67%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Array Technologies's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.54% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Array Technologies's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.73%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a high debt-to-equity ratio of 3.4, Array Technologies faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

ARRY

Key Takeaways From Array Technologies Analyst Ratings

Ratings for Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) were provided by 21 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">7</td>
<td align="right">7</td>
<td align="right">7</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">4</td>
<td align="right">4</td>
<td align="right">5</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for Array Technologies, presenting an average target of $12.17, a high estimate of $22.00, and a low estimate of $7.00. Highlighting a 28.33% decrease, the current average has fallen from the previous average price target of $16.98. 
<img src="https://www.benzinga.com/files/images/story/2024/1729616454_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Array Technologies's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$7.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$20.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Lowers</td>
<td>Positive</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$10.00</td>
<td>$12.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$9.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$10.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$11.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$12.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$11.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Jeffrey Osborne</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$11.50</td>
<td>$16.50</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$16.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$11.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Philip Shen</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$20.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Array Technologies. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Array Technologies compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Array Technologies's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Array Technologies's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ARRY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Array Technologies analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>All You Need to Know About Array Technologies</h2>
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.
<h3>Array Technologies: Financial Performance Dissected</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Negative Revenue Trend: Examining Array Technologies's financials over 3 months reveals challenges. As of 30 June, 2024, the company experienced a decline of approximately -49.63% in revenue growth, reflecting a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Array Technologies's net margin is impressive, surpassing industry averages. With a net margin of 4.67%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Array Technologies's ROE excels beyond industry benchmarks, reaching 5.54%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Array Technologies's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.73%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.4, caution is advised due to increased financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For Array Technologies

Piper Sandler analyst Kashy Harrison maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Neutral and lowers the price target from $8 to $7.

News

Price Target

Piper Sandler Maintains Neutral on Array Technologies, Lowers Price Target to $7

JP Morgan analyst Paul Coster maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Overweight and lowers the price target from $22 to $20.

JP Morgan Maintains Overweight on Array Technologies, Lowers Price Target to $20

Susquehanna analyst Biju Perincheril maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Positive and lowers the price target from $14 to $10.

Susquehanna Maintains Positive on Array Technologies, Lowers Price Target to $10

Truist Securities analyst Jordan Levy maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Buy and lowers the price target from $12 to $10.

Truist Securities Maintains Buy on Array Technologies, Lowers Price Target to $10

BMO Capital analyst Ameet Thakkar maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Market Perform and lowers the price target from $11 to $9.

BMO Capital Maintains Market Perform on Array Technologies, Lowers Price Target to $9

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<li>Astera Labs, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALAB#NASDAQ">ALAB</a>) shares jumped 15.7% to $61.31 after the company announced a new portfolio of fabric switches purpose-build for AI infrastructure at cloud-scale. Also, Morgan Stanley maintained an Overweight rating on the stock and raised its price target from $55 to $74.</li>
<li>Standard Lithium Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLI#NYSE">SLI</a>) surged 14.6% to $1.9788.</li>
<li>IDT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDT#NYSE">IDT</a>) gained 14.5% to $44.03.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) climbed 10.7% to $0.9196.</li>
<li>Sigma Lithium Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>) rose 9.4% to $14.44.</li>
<li>Biomea Fusion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMEA#NASDAQ">BMEA</a>) surged 9.3% to $12.46. EF Hutton analyst Jason Kolbert initiated coverage on Biomea Fusion with a Buy rating and announced a price target of $128.</li>
<li>Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) gained 8.1% to $22.48. Citigroup analyst James Hardiman upgraded Norwegian Cruise Line from Neutral to Buy and raised the price target from $20 to $30.</li>
<li>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) rose 6.8% to $6.88.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) climbed 5.4% to $47.80.</li>
<li>GitLab Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) gained 5.3% to $52.60. Morgan Stanley analyst Sanjit Singh initiated coverage on GitLab with an Overweight rating and announced a price target of $70.</li>
<li>Chewy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) rose 3.3% to $30.50. TD Cowen analyst Bill Kerr initiated coverage on Chewy with a Buy rating and announced a price target of $38.</li>
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Arcadium Lithium, Norwegian Cruise Line, GitLab, Chewy And Other Big Stocks Moving Higher On Wednesday

Guggenheim analyst Joseph Osha maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Buy and lowers the price target from $14 to $12.

Guggenheim Maintains Buy on Array Technologies, Lowers Price Target to $12

Throughout the last three months, 18 analysts have evaluated Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>), offering a diverse set of opinions from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $13.64, a high estimate of $27.00, and a low estimate of $8.00. Observing a downward trend, the current average is 28.1% lower than the prior average price target of $18.97. 
<img src="https://www.benzinga.com/files/images/story/2024/1727971209_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The standing of Array Technologies among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$10.00</td>
<td>$11.00</td>
</tr>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$11.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$12.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$11.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Jeffrey Osborne</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$11.50</td>
<td>$16.50</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$16.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$11.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Philip Shen</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$27.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Vikram Bagri</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$17.00</td>
<td>$18.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Array Technologies. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Array Technologies compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Array Technologies's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Capture valuable insights into Array Technologies's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ARRY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Array Technologies analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into Array Technologies's Background</h2>
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.
<h3>Understanding the Numbers: Array Technologies's Finances</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Challenges: Array Technologies's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -49.63%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Array Technologies's net margin excels beyond industry benchmarks, reaching 4.67%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Array Technologies's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.54% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Array Technologies's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.73%, the company showcases efficient use of assets and strong financial health.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 3.4, caution is advised due to increased financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Array Technologies Stock: A Deep Dive Into Analyst Perspectives (18 Ratings)

Barclays analyst Christine Cho maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Overweight and lowers the price target from $11 to $10.

Barclays Maintains Overweight on Array Technologies, Lowers Price Target to $10

Solar stocks rallied Wednesday, rebounding from recent four-year lows, following Vice President Kamala Harris&#8216;s strong showing against former President Donald Trump at their highly anticipated presidential <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40813068/a-flash-poll-shows-kamala-harris-as-the-clear-winner-of-the-debate-against-donald-trump-bu">debate on ABC. </a>
Investors appeared buoyed by Harris's performance during the debate, which signaled potential stability for clean energy policies under a future administration, sparking renewed interest in the solar sector.
The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), a benchmark for the solar industry, surged by 3.7% by 11:05 a.m. ET, even as broader market sentiment remained bearish following a concerning August inflation report.
<h3 class="wp-block-heading">Harris&#8217;s Debate Performance Boosts Clean Energy Optimism</h3>
In a CNN/SSRS poll of 600 registered voters who tuned into the debate, 63% said Harris outperformed Trump, while 37% favored the former president. Prior to the debate, the same group of voters had been evenly split on their expectations of who would deliver a stronger performance.
Coco Zhang, an ESG research analyst at ING Group, noted that Harris is &#8220;likely to preserve the Biden administration's most important climate legacy, emphasizing a more efficient implementation of the Inflation Reduction Act (IRA).&#8221;
Harris has long been a vocal advocate for clean energy. During a 2023 speech at Coppin State University, she reiterated her administration's long-term goals: &#8220;We set an ambitious goal to cut our greenhouse gas emissions in half by 2030 and to reach net-zero emissions by 2050,&#8221; she said.
Also Read: <a href="https://www.benzinga.com/news/24/09/40815343/not-a-slam-dunk-for-harris-but-the-chances-of-a-trump-victory-have-slipped-investors-markets-adjust">&#8216;Not A Slam Dunk For Harris, But The Chances Of A Trump Victory Have Slipped:&#8217; Investors, Markets Adjust Positions After Presidential Debate</a>
<h3 class="wp-block-heading">Harris&#8217;s Climate Legacy</h3>
Zhang emphasized that Harris&#8217;s campaign proposals in 2020 included an aggressive $10 trillion investment in decarbonizing the U.S. economy, the establishment of a carbon tax, and a ban on fracking. &#8220;We expect her to propose expanded clean energy spending, with a greater focus on environmental justice and affordable energy,&#8221; said Zhang.
Furthermore, a Harris-led administration would likely enforce stricter regulations on vehicles, oil, and gas industries, aligning with her vision to advance U.S. climate leadership on the global stage, particularly through continued participation in key climate summits like the United Nations Conference of the Parties.
<h3 class="wp-block-heading">Solar Stocks: Wednesday&#8217;s Top 7 Gainers</h3>
Below are the top gainers in the solar sector on Wednesday:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>)</td>
<td>7.98%</td>
</tr>
<tr>
<td>Shoals Technologies Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHLS#NASDAQ">SHLS</a>)</td>
<td>7.80%</td>
</tr>
<tr>
<td>Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>)</td>
<td>6.47%</td>
</tr>
<tr>
<td>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) </td>
<td>6.33%</td>
</tr>
<tr>
<td>Nextracker Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>)</td>
<td>5.80%</td>
</tr>
<tr>
<td>Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>)</td>
<td>5.00%</td>
</tr>
<tr>
<td>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>)</td>
<td>4.43%</td>
</tr>
</tbody>
</table>
</figure>
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<li><a href="https://www.benzinga.com/news/24/09/40810498/bill-ackman-and-elon-musk-blast-kamala-harris-for-her-social-media-posts-during-debate-with-trump-ev">Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: &#8216;Even Her Tweets Are Not Her Own&#8217;</a></li>
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Photo created using Shutterstock and Midjourney.

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Solar Shares Climb As Harris Gains Momentum Post-Debate Against Trump: 7 Top Gainers In Clean Energy

Shares of solar stocks are trading higher. The sector may be reacting to last night's Trump-Harris debate and comments from VP Harris in support of diverse energy sources.

U.S. stocks were lower, with the Dow Jones index falling over 1% on Wednesday.
Shares of Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) rose sharply during Wednesday's session following quarterly results.
Petco reported quarterly losses of nine cents per share, which missed the analyst consensus estimate of losses of two cents per share. Quarterly sales of $1.52 billion met the analyst consensus estimate and represented a 1.99% increase over the same period last year.
Petco Health and Wellness shares surged 8.4% to $3.3299 on Wednesday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>PureCycle Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCT#NASDAQ">PCT</a>) shares jumped 20% to $5.63 after the company announced financing transaction and Ironton production update.</li>
<li>Sigma Lithium Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGML#NASDAQ">SGML</a>) gained 17.4% to $11.05 amid a rise in the price of lithium. Chinese company Contemporary Amperex Technology halted production at its lepidolite mine in Yichun, Jiangxi.</li>
<li>Lithium Americas (Argentina) Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAAC#NYSE">LAAC</a>) rose 15.7% to $2.49 amid a rise in the price of lithium. Chinese company Contemporary Amperex Technology halted production at its lepidolite mine in Yichun, Jiangxi.</li>
<li>Hyliion Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HYLN#NYSE">HYLN</a>) gained 13.3% to $2.0046. Hyliion Holdings recently announced it has been awarded a $15 million + contract by the Office of Naval Research to develop its KARNO generator for Navy ships and stationary power applications.</li>
<li>Oscar Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSCR#NYSE">OSCR</a>) jumped 13.2% to $19.72.</li>
<li>Arcadium Lithium plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>) gained 11.7% to $2.5250.</li>
<li>Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) gained 10.2% to $86.67 amid a rise in the price of lithium. Chinese company Contemporary Amperex Technology halted production at its lepidolite mine in Yichun, Jiangxi.</li>
<li>Liquidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LQDA#NASDAQ">LQDA</a>) gained 10.1% to $9.81 after the company announced raise of $67.5 million from new common stock financings and $32.5 million advance from HealthCare Royalty under current financing agreement.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) rose 8.8% to $19.41.</li>
<li>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) gained 7.8% to $6.14.</li>
<li>Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) rose 7.5% to $32.09 after the company reported better-than-expected second-quarter EPS results.</li>
<li>Verona Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNA#NASDAQ">VRNA</a>) gained 6.6% to $29.86. HC Wainwright &amp; Co. analyst Raghuram Selvaraju reiterated Verona Pharma with a Buy and maintained a $36 price target.</li>
<li>First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) gained 6.2% to $221.14.</li>
<li>AppLovin Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) gained 6.2% to $91.53. B of A Securities analyst Omar Dessouky maintained AppLovin with a Buy and raised the price target from $100 to $120.</li>
</ul>
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Intraday Update

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Petco, AppLovin, Dave & Buster's And Other Big Stocks Moving Higher On Wednesday

Array Technologies Launches Innovative Reusable Packaging Solution To Replace Cardboard Boxes, Enhancing Sustainability And Supply Chain Efficiency; New Packaging Reduces Waste, Requires Fewer Trucks, And Has A 15-Year Lifespan

In the latest quarter, 18 analysts provided ratings for Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>), showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">6</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $13.86, a high estimate of $27.00, and a low estimate of $8.00. A decline of 28.81% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2024/1725454829_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
The perception of Array Technologies by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Julien Dumoulin-Smith</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$11.00</td>
<td>-</td>
</tr>
<tr>
<td>Joseph Osha</td>
<td>Guggenheim</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$12.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Jordan Levy</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$12.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Christine Cho</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$11.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$22.00</td>
<td>$27.00</td>
</tr>
<tr>
<td>Jeffrey Osborne</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Hold</td>
<td>$11.50</td>
<td>$16.50</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$10.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Brian Lee</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Colin Rusch</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$17.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Jon Windham</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$16.00</td>
<td>$24.00</td>
</tr>
<tr>
<td>Kashy Harrison</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$14.00</td>
</tr>
<tr>
<td>Ameet Thakkar</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$11.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Philip Shen</td>
<td>Roth MKM</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$8.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Paul Coster</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$27.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Vikram Bagri</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Buy</td>
<td>$14.00</td>
<td>$17.00</td>
</tr>
<tr>
<td>Tristan Richardson</td>
<td>Scotiabank</td>
<td>Lowers</td>
<td>Sector Outperform</td>
<td>$17.00</td>
<td>$18.00</td>
</tr>
<tr>
<td>Biju Perincheril</td>
<td>Susquehanna</td>
<td>Announces</td>
<td>Positive</td>
<td>$14.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Array Technologies. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Array Technologies compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Array Technologies's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Array Technologies's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ARRY/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Array Technologies analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Get to Know Array Technologies Better</h2>
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.
<h3>Breaking Down Array Technologies's Financial Performance</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: Array Technologies's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -49.63%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Industrials sector.
Net Margin: Array Technologies's net margin is impressive, surpassing industry averages. With a net margin of 4.67%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Array Technologies's ROE excels beyond industry benchmarks, reaching 5.54%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Array Technologies's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.73%, the company showcases efficient use of assets and strong financial health.
Debt Management: Array Technologies's debt-to-equity ratio is notably higher than the industry average. With a ratio of 3.4, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>How Are Analyst Ratings Determined?</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Breaking Down Array Technologies: 18 Analysts Share Their Views

U.S. stocks were mostly higher, with the Dow Jones index gaining around 150 points on Monday.
Shares of Galapagos NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLPG#NASDAQ">GLPG</a>) rose sharply during Monday's session after Ecor1 Capital reported a 9.9% stake in the company.
Galapagos shares jumped 10% to $28.47 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>COMPASS Pathways plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPS#NASDAQ">CMPS</a>) shares gained 14.3% to $8.22.</li>
<li>MoneyLion Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ML#NYSE">ML</a>) gained 9.4% to $47.41 after announcing a $20 million share repurchase program.</li>
<li>Gyre Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GYRE#NASDAQ">GYRE</a>) jumped 9% to $14.00.</li>
<li>PureTech Health plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTC#NASDAQ">PRTC</a>) rose 8% to $23.87.</li>
<li>Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) gained 7% to $5.61.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares rose 6.1% to $7.44 after disclosing that its CEO had acquired over 2 million shares of the company.</li>
<li>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) jumped 5.7% to $7.32.</li>
<li>Chart Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NASDAQ">GTLS</a>) gained 5.6% to $130.54.</li>
<li>Rocket Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCKT#NASDAQ">RCKT</a>) jumped 5.5% to $19.63.</li>
<li>CorMedix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) gained 5.3% to $5.95. Rodman &amp; Renshaw analyst Brandon Folkes initiated coverage on Cormedix with a Buy rating and announced a price target of $13.</li>
<li>Pharming Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHAR#NASDAQ">PHAR</a>) gained 5% to $7.98.</li>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) rose 4.8% to $128.95.</li>
<li>ProFrac Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACDC#NASDAQ">ACDC</a>) gained 4.6% to $6.80.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40550998/top-3-financials-stocks-that-could-blast-off-this-quarter">Top 3 Financials Stocks That Could Blast Off This Quarter</a></li>
</ul>

ACDC

CMPS

CRMD

GLPG

GTLS

GYRE

LUNR

PHAR

PRTC

RCKT

XPEV

Galapagos, XPeng, CorMedix And Other Big Stocks Moving Higher On Monday

The most oversold stocks in the industrials sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Hyzon Motors Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</h3>
<ul>
<li>On Aug. 13, Hyzon Motors reported worse-than-expected second-quarter financial results. &#8220;In the second quarter of 2024, we executed on several strategic initiatives, including focusing our business on the North American Class 8 and refuse markets. This decision positions us to capitalize on immediate commercial opportunities supported by continued U.S. government backing,&#8221; said Hyzon Chief Executive Officer (CEO) Parker Meeks. The company's stock fell around 47% over the past five days and has a <a href="https://www.benzinga.com/quote/HYZN">52-week low </a>of $0.050.</li>
<li>RSI Value: 25.52</li>
<li>HYZN Price Action: Shares of Hyzon Motors dipped 27.8% to close at $0.054 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"> latest HYZN news.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="887" height="816" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062140/image-149.png" alt="" class="wp-image-501087" style="width:661px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062140/image-149.png 887w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062140/image-149-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062140/image-149-768x707.png 768w" sizes="(max-width: 887px) 100vw, 887px" /></a></figure>
<h3 class="wp-block-heading">Velo3D Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLD#NYSE">VLD</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Aug. 14, Velo3D reported a year-over-year increase in second-quarter adjusted EPS results. &#8220;Our second quarter results reflected continued execution on our strategic priorities as we added to our year-to-date bookings, maintained a healthy backlog and reduced our operating expenses,&#8221; said Brad Kreger, CEO of Velo3D. The company's stock fell around 46% over the past five days. It <a href="https://www.benzinga.com/quote/VLD">has a 52-week low</a> of $1.23.</li>
<li>RSI Value: 23.62</li>
<li>VLD Price Action: Shares of Velo3D fell 5.4% to close at $1.23 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"> trend in VLD stock.</a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="908" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062237/image-150.png" alt="" class="wp-image-501090" style="width:587px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062237/image-150.png 908w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062237/image-150-300x277.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062237/image-150-768x708.png 768w" sizes="(max-width: 908px) 100vw, 908px" /></a></figure>
<h3 class="wp-block-heading">Array Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>)</h3>
<ul>
<li>On Aug. 8, Array Technologies reported quarterly earnings of 20 cents per share, which beat the analyst consensus estimate of 11 cents by 81.82%. Array Technologies lowered its fiscal year outlook to earnings of between 64 cents and 74 cents, versus the $1,08 estimate, and full-year sales to a range of $900 million to $1 billion, versus the $1.3 billion estimate. The company's shares fell around 38% over the past month and has a 52-week<a href="https://www.benzinga.com/quote/ARRY"> low of $6.43</a>.</li>
<li>RSI Value: 23.63</li>
<li>ARRY Price Action: Shares of Array Technologies rose 0.8% to close at $6.55 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1">breakout in</a> ARRY shares. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081924&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="891" height="836" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062457/image-151.png" alt="" class="wp-image-501095" style="width:605px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062457/image-151.png 891w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062457/image-151-300x281.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/19062457/image-151-768x721.png 768w" sizes="(max-width: 891px) 100vw, 891px" /></a></figure>
Read More:<a href="https://www.benzinga.com/markets/24/08/40420521/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job"> </a>
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40420521/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
</ul>

Long Ideas

Pre-Market Outlook

HYZN

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Guggenheim analyst Joseph Osha maintains Array Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) with a Buy and lowers the price target from $18 to $14.

Guggenheim Maintains Buy on Array Technologies, Lowers Price Target to $14

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Piper Sandler lowered the firm's price target on Array Technologies (ARRY) to $7 from $8 and keeps a Neutral rating on the shares. The firm notes t...

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First Solar raised to Buy at Citi, seeing benefit in almost any election outcome

ACES

BBAI

CNRG

DDOG

ERTH

FCEL

FLNC

GPRE

ICLN

PLUG

QCLN

SMOG

STEM

Management

Press Releases

Array Technologies Announces Departure of Chief Financial Officer

Array CEO Kevin Hostetler Testifies Before Congress on the Solar Manufacturing Boom from the Inflation Reduction Act

Array Technologies Publishes 4th Annual Sustainability Disclosures

Array Technologies, Inc. Announces Second Quarter 2024 Earnings Release Date and Conference Call

General

Array Unveils SkyLink Tracker System to Maximize Solar Efficiency in Extreme Weather & Reduce Costs

Array Technologies, Inc. Reports Financial Results for the Second Quarter 2024 – Delivers strong results on continued gross margin strength

ARRAY Technologies Developing Industry-Leading 77-Degree Stow for Enhanced Hail Protection

Marathon Capital Hires James Fitzgerald as Head of Institutional Sales

ARRAY Technologies Introduces Reusable Packaging Option

ARRAY Technologies, Inc. Announces Third Quarter 2024 Earnings Release Date and Conference Call

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