Array Technologies Inc (ARRY)

In the past six months, Array Technologies' stock has been influenced by several key events. The First Quarter 2025 Earnings Conference Call reported strong results, leading to a positive bump in the stock price. Array Technologies announced its intention to acquire APA Solar. The company proposed a private offering of $250 million in convertible senior notes due 2031. The Second Quarter 2025 Earnings Conference Call saw Array Technologies beat forecasts and raise its full-year guidance, resulting in a 7.88% premarket surge in its stock. The acquisition of APA Solar was completed. Array Technologies confirmed the compatibility of its systems with 2000-Volt Solar Projects. The stock experienced a 10.3% jump after analysts at Baird and Deutsche Bank initiated coverage with favorable ratings and set price targets. The company announced that its Third Quarter 2025 financial results would be released on November 5, 2025.

Array Technologies experiences demand seasonality for its products and services. To mitigate these fluctuations in revenue, the company is strategically expanding its presence into southern hemisphere markets, such as Brazil.

Array Technologies, Inc. is a global provider of solar tracking solutions, specializing in designing, manufacturing, and delivering systems that optimize the performance of photovoltaic solar energy projects. Its core business revolves around advanced solar tracking solutions, which maximize energy output by aligning solar panels with the sun's movement. Major products include the DuraTrack HZ v3, Array STI H250, Array OmniTrack, Array SkyLink, and SmarTrack.

Array Technologies has a significant international presence, manufacturing and selling its solar tracking technology products in the United States, Spain, Brazil, Australia, and other international markets, serving customers in over 30 countries. The company operates through two primary segments: Array Legacy Operations, which is more focused on the U.S. market, and STI Operations, its international arm.

Array Technologies has cultivated a strong brand reputation, known for its reliable products and "engineered simplicity" tagline. The company has established strong bankability in the utility-scale solar industry with over 80 gigawatts installed or awarded worldwide. Array Technologies is recognized as a leader in U.S. domestic content sourcing. However, the integration of its 2021 acquisition of STI Norland was reportedly "rough," involving accounting errors, financial restatements, and material weaknesses, which led to significant impairment charges in 2024.

Institutional investors hold a significant portion of Array Technologies' stock, with approximately 22.52% to 44.79% owned by institutional investors, and some sources indicating institutional ownership potentially over 90%. Major institutional shareholders include BlackRock, Inc., UBS Group AG, Vanguard Group Inc, Hill City Capital, LP, Grantham, Mayo, Van Otterloo & Co. LLC, BNP Paribas Asset Management Holding S.A., Schroder Investment Management Group, Morgan Stanley, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, and Assenagon Asset Management S.A. Retail investors also hold a substantial share, estimated at around 54.80%. Insider ownership by management is relatively low, around 0.41% to 0.53%.