AI is a game of kings, and OpenAI knows it
ALBUQUERQUE - Array Technologies (NASDAQ:ARRY), a $1.4 billion market cap provider of solar tracking technology whose stock has surged nearly 68% over the past six months, announced Wednesday that its DuraTrack and OmniTrack systems have been verified by Intertek to be compatible with 2000-volt module-wired systems. According to InvestingPro data, the company maintains strong financial health with a current ratio of 2.22, indicating solid operational stability.
Intertek, a quality assurance provider, conducted a review of Array’s trackers under UL 3703 and UL 2703 standards, confirming that the tracking systems meet technical requirements for 2kV system operation without additional modifications.
The verification supports the solar industry’s transition to higher-voltage architectures, which can potentially reduce electrical losses, lower material costs, and improve overall system performance by increasing system voltage from 1,500V to 2,000V. With analysts forecasting 31% revenue growth this year, Array Technologies appears well-positioned to capitalize on this industry transition.
"As the industry moves toward 2,000-volt architectures to enhance efficiency and reduce costs, our tracking systems are already equipped to meet these evolving needs," said Aaron Gabelnick, chief strategy and technology officer at Array Technologies.
The company’s long-row system architecture, available on both tracking systems, is designed to enhance efficiency for solar projects, potentially making it easier for developers and engineering, procurement, and construction companies to optimize system design.
Array Technologies, headquartered in the United States, provides solar tracking technology to utility-scale and distributed generation customers. The announcement was made in a company press release.
In other recent news, Array Technologies reported its second-quarter earnings for 2025, surpassing market expectations. The company achieved an earnings per share (EPS) of $0.25, exceeding the forecasted $0.19, and reported revenue of $362 million, which was significantly higher than the anticipated $291.41 million. Additionally, Array Technologies completed its acquisition of APA Solar, expanding its product portfolio to include APA’s tracker-compatible engineered foundation systems and fixed-tilt racking systems. This strategic move allows APA Solar to operate under its brand as a business unit within Array Technologies.
In terms of analyst activity, Jefferies raised its price target for Array Technologies to $13.00 from $10.00, maintaining a Buy rating. This adjustment was influenced by the completion of the APA transaction and the resolution of Treasury guidance-related uncertainties. Similarly, UBS increased its price target to $9.00 from $8.50, also maintaining a Buy rating. UBS’s decision was based on revised estimates that reflect improved gross margins anticipated in the latter half of 2025. These developments highlight a period of significant growth and strategic expansion for Array Technologies.
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