Array Technologies (ARRY) Stock: Over 10% Increase Explanation

By Amit Chowdhry ● May 13, 2021
  • The stock price of Array Technologies Inc (NASDAQ: ARRY) increased by over 10% during intraday trading this morning. This is why it happened.

The stock price of Array Technologies Inc (NASDAQ: ARRY) increased by over 10% during intraday trading this morning. Investors appear to be responding positively to some analyst research reports.

UBS had adjusted its price target from $27 to $43 and they are maintaining a “Buy” rating on the company shares. And Credit Suisse had upgraded Array Technologies to “Outperform” from “Neutral” and adjusted the price target from $42 to $31.

Array Technologies’ stock price recently took a big hit after the company had missed its first-quarter profit expectations and withdrew the full-year outlook due to continued increases in the prices of steel and freight.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.