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Array Technologies Inc . (NASDAQ:ARRY) stock has tumbled to a 52-week low, touching down at $4.87, representing a stark decline from its 52-week high of $15.35. According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts setting price targets ranging from $6 to $13. This latest price point marks a significant downturn for the solar energy solutions provider, which has seen its stock value plummet by 65.42% over the past year. Investors are closely monitoring the company’s performance, seeking signs of a turnaround, while the industry grapples with broader economic pressures that continue to test the resilience of renewable energy firms. InvestingPro data reveals that despite current challenges, net income is expected to grow this year, with 12 additional key insights available for subscribers seeking deeper analysis.
In other recent news, Array Technologies reported its Q4 2024 earnings, with an earnings per share (EPS) of $0.16, missing the forecast of $0.18. The company recorded a revenue of $275.2 million for the quarter, slightly surpassing expectations. Despite the revenue beat, the company faced a 42% decline in full-year revenue compared to 2023, totaling $960 million. Analysts from RBC Capital Markets initiated coverage on Array Technologies with a "Sector Perform" rating and a price target of $7.00, highlighting the company’s product innovations but maintaining a cautious stance until further evidence of order growth is seen.
Barclays (LON:BARC) adjusted its outlook on Array Technologies, reducing the price target from $9.00 to $8.00 while maintaining an Overweight rating, citing potential revenue growth from rising steel prices and a reduced risk of order cancellations. Seaport Global Securities downgraded Array Technologies’ stock from Buy to Neutral, expressing concerns over competitive pressures and challenging conditions in Brazil, despite the company’s efforts to reduce debt and improve its U.S. market performance. Mizuho (NYSE:MFG) Securities also lowered its price target from $11.00 to $9.00, maintaining a Neutral rating due to weaker than expected top-line growth and EBITDA margin forecasts, particularly affected by the Brazilian market.
Investors will be closely watching Array Technologies’ performance, especially in navigating market challenges in Brazil, as the company projects a 20% revenue growth for 2025. The company’s ability to leverage its product innovations and strategic positioning will be crucial in addressing these challenges and achieving its growth targets.
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