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Array Technologies — Should You Ride the Solar Wave Now?

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Written by Timothy Sykes Reviewed by Jack Kellogg Fact-checked by Ellis Hobbs

Array Technologies Inc. has significantly benefited from positive sentiment, driven by news of robust financial performance and strategic industry partnerships, as indicated by a 13.21 percent rise in stock price on Monday.

Recent Developments

  • Citi suggests that First Solar, Array Technologies, and Sunrun are favorable stocks if Democrats win in November.
  • A Democrat win in November could position Array Technologies as a top choice in the renewable energy sector, per Citi’s analysis.
  • Upcoming earnings release for Array Technologies on Nov 7, 2024, following market close, aims to showcase their robust solutions and strategies to investors.
  • Roth MKM’s webinar aligns with sustainability and infrastructure needs, highlighting firms, like Array, preparing for future power trends.
  • Analyst at Truist predicts a brighter financial landscape for Array Technologies, maintaining a “Buy” despite a price target shift.

Candlestick Chart

Live Update at 11:37:01 EST: On Monday, November 04, 2024 Array Technologies Inc. stock [NASDAQ: ARRY] is trending up by 13.21%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Overview of Array Technologies’ Financial Health

Right now, Array Technologies seems to be maneuvering through a landscape filled with both opportunities and challenges — much like a surfer positioned before a promising wave. With a closing stock price of $7.565 as of Nov 4, 2024, the company shows some volatility, yet there seems to be an upward trend. From Oct 14 to Nov 4, there’s a noticeable uptick from $6.73 to the current $7.565, hinting at increasing investor confidence.

Array Technologies continues to leverage their strong ebitda margin of 16.2%, which is respectable in their sector. Their revenue has poised at around $1.58B, reflecting consistent growth at an impressive pace of 12.92% over three years. It seems the market recognizes their potential, seeing the stock’s low price-to-sales ratio of 0.92 as an attractive opportunity.

The company manages assets with a steady hand, boasting a healthy current ratio of 2.5, indicating they can comfortably handle short-term liabilities with their available assets. However, their total debt to equity at 3.4 is worth noting, suggesting some reliance on debt for growth.

More Breaking News

Array’s future seems to hinge on strategic decisions, carefully balanced to ensure continued profitability in the ever-expanding solar market. The commitment to scalable utility projects and intelligent solar tracking technology stands to affirm their position as leaders in clean energy innovation. Yet, a high price-to-free cash ratio signals a need for future investments to lean towards profitability.

What the News Means for Array Technologies

Array Technologies is under the spotlight, not just for their technology but also for the pivotal role they might play in renewable energy politics. With thriving market endorsements from Citi, heralding their prospects if Democrats take office, the buzz around this solar tech company is tangible. It’s almost as if they’re at the starting line of a potential race toward a greener future.

This potential political endorsement isn’t just fluff; it’s grounded in the increasing legislative focus on clean energy solutions—an avenue where Array can exploit their technological edge. Imagine Array leading a convoy of solar units across America — powering communities while riding the burgeoning wave of policy and public demand for renewable solutions.

The anticipation of their quarterly results adds another layer of intrigue. Scheduled for early November, it’s like waiting for the curtain to rise on an eagerly anticipated show. Investors are keen to see how the fiscal health of the company aligns with growing expectations.

Amid this anticipation, it is critical to remember that market optimism must be tempered with real fiscal performance. Analyst Jordan Levy’s revised price target and buy rating underscore the optimism but hint at caution, urging investors to be mindful of both potential profits and pitfalls.

In this intricate dance of market, policy, and performance, Array appears poised but will need to execute their steps with precision to maintain momentum.

Market Implications and Conclusion

Should you buy, hold, or pass? The crux of this ever-evolving story hinges on Array Technologies’ strategic responses in the months ahead. Their alignment with major political events boosts prospects of riding favorable political tides. Consider their promising financial trends, yet bear in mind market fluctuations and regulatory shifts.

The composition of anticipated earnings, coupled with political endorsements, creates a vantage point for potential investors. Watching closely, one might equate it with watching a controlled demolition; vibrant with opportunities, yet requiring precise execution.

The solar wave is around the corner, and it could be an opportunity worth watching if not seized. Navigating through this intricate landscape with arrayed optimism, based on sound financials, might just be the key to harnessing sustainable returns.

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Timothy Sykes

Tim Sykes is a penny stock trader and teacher who became a self-made millionaire by the age of 22 by trading $12,415 of bar mitzvah money. After becoming disenchanted with the hedge fund world, he established the Tim Sykes Trading Challenge to teach aspiring traders how to follow his trading strategies. He’s been featured in a variety of media outlets including CNN, Larry King, Steve Harvey, Forbes, Men’s Journal, and more. He’s also an active philanthropist and environmental activist, a co-founder of Karmagawa, and has donated millions of dollars to charity. Read More

* Results are not typical and will vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk. See Terms of Service here

The available research on day trading suggests that most active traders lose money. Fees and overtrading are major contributors to these losses.

A 2000 study called “Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors” evaluated 66,465 U.S. households that held stocks from 1991 to 1996. The households that traded most averaged an 11.4% annual return during a period where the overall market gained 17.9%. These lower returns were attributed to overconfidence.

A 2014 paper (revised 2019) titled “Learning Fast or Slow?” analyzed the complete transaction history of the Taiwan Stock Exchange between 1992 and 2006. It looked at the ongoing performance of day traders in this sample, and found that 97% of day traders can expect to lose money from trading, and more than 90% of all day trading volume can be traced to investors who predictably lose money. Additionally, it tied the behavior of gamblers and drivers who get more speeding tickets to overtrading, and cited studies showing that legalized gambling has an inverse effect on trading volume.

A 2019 research study (revised 2020) called “Day Trading for a Living?” observed 19,646 Brazilian futures contract traders who started day trading from 2013 to 2015, and recorded two years of their trading activity. The study authors found that 97% of traders with more than 300 days actively trading lost money, and only 1.1% earned more than the Brazilian minimum wage ($16 USD per day). They hypothesized that the greater returns shown in previous studies did not differentiate between frequent day traders and those who traded rarely, and that more frequent trading activity decreases the chance of profitability.

These studies show the wide variance of the available data on day trading profitability. One thing that seems clear from the research is that most day traders lose money .

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Citations for Disclaimer

Barber, Brad M. and Odean, Terrance, Trading is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors. Available at SSRN: “Day Trading for a Living?”

Barber, Brad M. and Lee, Yi-Tsung and Liu, Yu-Jane and Odean, Terrance and Zhang, Ke, Learning Fast or Slow? (May 28, 2019). Forthcoming: Review of Asset Pricing Studies, Available at SSRN: “https://ssrn.com/abstract=2535636”

Chague, Fernando and De-Losso, Rodrigo and Giovannetti, Bruno, Day Trading for a Living? (June 11, 2020). Available at SSRN: “https://ssrn.com/abstract=3423101”