Wells Fargo & Company Cuts Array Digital Infrastructure (NYSE:AD) Price Target to $54.00

Array Digital Infrastructure (NYSE:AD) had its target price decreased by equities research analysts at Wells Fargo & Company from $62.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.74% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, January 21st. Royal Bank Of Canada dropped their price objective on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Tuesday, November 25th. Citigroup raised their target price on Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Finally, Wall Street Zen raised Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.67.

Array Digital Infrastructure Stock Performance

Shares of Array Digital Infrastructure stock traded up $0.24 during trading hours on Thursday, reaching $49.66. 32,431 shares of the company were exchanged, compared to its average volume of 306,390. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 275.81 and a beta of 0.17. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.26. Array Digital Infrastructure has a 1 year low of $44.03 and a 1 year high of $79.17. The firm has a fifty day moving average of $51.82.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter worth about $910,000. Aberdeen Group plc acquired a new position in Array Digital Infrastructure during the 4th quarter worth approximately $15,528,000. Harbor Capital Advisors Inc. purchased a new position in Array Digital Infrastructure in the 4th quarter worth approximately $99,000. Signaturefd LLC acquired a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $73,000. Finally, State of Alaska Department of Revenue acquired a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $5,187,000. Hedge funds and other institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.