- Roth Capital analyst Philip Shen upgraded Array Technologies Inc (NASDAQ:ARRY) to Buy from Neutral with a $25 price target, implying an upside of 82.3%.
- Shen is incrementally more bullish ahead of the company’s Q2 report due on Aug. 11.
- With shares down about 45% since the company’s Q1 report, he sees the potential for the stock to leap higher on any healthy amount of good news such as reinstating guidance.
- Shen’s checks suggest Array may now be in a better financial position and could even gain share through the challenges posed by steel pricing.
- Array has a Q2 revenue consensus of $233.2 million and an EPS consensus of $0.03.
- Price Action: ARRY shares traded higher by 4.96% at $14.39 in the premarket session on the last check Tuesday.
3 Stocks Insiders Are Buying
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
