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In a challenging market environment, Array Technologies Inc . (NASDAQ:ARRY) stock has touched a 52-week low, dipping to $5.12. According to InvestingPro data, the company’s market capitalization stands at $836 million, with analysts setting price targets ranging from $6 to $22. The solar energy company, known for manufacturing solar tracking systems, has faced a significant downturn over the past year, with its stock price reflecting a steep decline of 51.98% from the previous year. Investors have been cautious as the company navigates through industry headwinds and competitive pressures, which have contributed to the stock’s underperformance and its current position at a yearly low. While current financials show challenges, InvestingPro analysis indicates the company is undervalued, with analysts projecting a return to profitability this year. Get access to 6 more exclusive InvestingPro Tips and comprehensive analysis through the Pro Research Report, available for over 1,400 US stocks.
In other recent news, Array Technologies reported its fourth-quarter 2024 earnings, revealing a slight miss on earnings per share (EPS) compared to market expectations, with an EPS of $0.16 against a forecast of $0.18. Despite this, the company achieved a slight revenue beat for the quarter, reporting $275.2 million, slightly above the forecast. The company also showed improved gross margins and provided optimistic guidance for 2025, projecting revenue growth between $1.05 billion and $1.15 billion, representing an expected 20% increase. However, Array faced challenges with a 42% decline in full-year revenue compared to 2023, totaling $960 million.
Mizuho (NYSE:MFG) Securities recently adjusted its outlook on Array Technologies, lowering the stock target to $9 from $11, citing concerns over the company’s lower sales projections and profitability issues, particularly due to market challenges in Brazil. Despite this reduction, Mizuho maintained its Neutral stock rating on Array. The company’s performance in the forthcoming year will be crucial as it aims to achieve nominal growth projected for 2025.
Investors and market watchers will be closely observing Array Technologies’ ability to navigate these challenges and capitalize on its projected revenue growth and improved gross margins in the coming year.
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