Array Technologies Stock Joins Rank Of Stocks With 95-Plus Composite Rating – Investor's Business Daily
BREAKING: Futures Rise On Two Tech Giants
Array Technologies (ARRY) stock saw its IBD SmartSelect Composite Rating rise to 97 Wednesday, up from 94 the day before. The solar stock sports a 98 Relative Strength Rating.
The upgrade means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength.
Array Technologies stock is currently forming the right side of a cup without handle, with a 24.10 buy point. Look for the stock to break out in heavy trade at least 40% above average. Read “Looking For The Next Big Stock Market Winners? Start With These 3 Steps” for more tips.
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One weak spot is the company’s 75 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.
Its Accumulation/Distribution Rating of A- shows heavy buying by institutional investors, such as mutual funds and pension funds, over the last 13 weeks.
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The solar company posted a 0% increase in earnings for Q3. Top line growth rose 173%, up from 116% in the prior quarter. That marks two consecutive reports with rising growth.
Array Technologies stock earns the No. 3 rank among its peers in the Energy-Solar industry group. Enphase Energy (ENPH) is the top-ranked stock within the group.
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