Array Technologies, Inc. shares traded at $10.00 on January 13, according to market data. The company's trailing price-to-earnings ratio stood at 63.59, while its forward P/E was 10.99, figures sourced from Yahoo Finance.
In 2024, Array Technologies reported a net loss of $296 million on revenue of $916 million. The company has since shifted, with 2025 revenue projected to approach $1.28 billion. Shipment volumes have increased 74% year-to-date.
Management retired a $233 million term loan by issuing new 2.875% notes. It also repurchased $100 million of legacy debt at an approximate 20% discount.
The stock's forward P/E is 11.5, with a PEG ratio of 0.58. Earnings are expected to grow about 33% next year. Short interest represents 26.6% of the float, and institutional ownership exceeds 100%.
Recent quarterly revenue grew 70%, and new orders totaled $1.9 billion. A fair value estimate near $14 implies roughly 30% upside from the current price.
Array Technologies sells solar tracking hardware, not panels. Lower panel prices can reduce total project costs, stimulating demand. Its trackers use proprietary software and machine learning, areas where low-cost competitors have struggled.
Alongside Nextracker, Array controls nearly half the global tracker market. U.S. manufacturing incentives provide domestic protection. Solar projects with trackers can be deployed quickly to meet AI-driven energy demand, especially in urban-adjacent regions where nuclear expansion faces resistance.
A previous bullish thesis on First Solar, Inc. by Oliver | MMMT Wealth in April 2025 highlighted advantages in technology and tariffs. First Solar's stock price has appreciated approximately 85.59% since that coverage. User c-u-in-da-ballpit emphasizes operational recovery and valuation disconnect at Array Technologies.
Array Technologies is not among the 30 Most Popular Stocks Among Hedge Funds. Thirty-six hedge fund portfolios held ARRY at the end of the third quarter, unchanged from the previous quarter.