Array Digital Infrastructure (NYSE:AD) Sets New 1-Year Low – Should You Sell?

Array Digital Infrastructure Inc. (NYSE:AD)’s share price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $28.80 and last traded at $30.5130, with a volume of 20,083 shares traded. The stock had previously closed at $31.37.

Wall Street Analyst Weigh In

Several brokerages recently commented on AD. Royal Bank Of Canada cut their price objective on shares of Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Friday, July 10th. JPMorgan Chase & Co. decreased their target price on shares of Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Citigroup dropped their target price on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings cut shares of Array Digital Infrastructure from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, October 19th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.40.

Array Digital Infrastructure Stock Down 2.7%

The company has a 50 day moving average price of $34.85 and a two-hundred day moving average price of $42.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $2.64 billion, a PE ratio of 4.93 and a beta of 0.34.

Array Digital Infrastructure (NYSE:AD) last released its quarterly earnings data on Friday, November 6th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.07 by $0.73. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%. The company had revenue of $53.87 million for the quarter. During the same period last year, the business earned ($0.44) earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Analysts expect that Array Digital Infrastructure Inc. will post 1.15 EPS for the current year.

Hedge Funds Weigh In On Array Digital Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of AD. Dimensional Fund Advisors LP grew its stake in shares of Array Digital Infrastructure by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,299,582 shares of the company’s stock worth $106,102,000 after acquiring an additional 57,198 shares during the period. Bank of America Corp DE purchased a new position in shares of Array Digital Infrastructure during the second quarter valued at approximately $26,853,000. BlackRock Inc. purchased a new position in shares of Array Digital Infrastructure during the second quarter valued at approximately $14,537,000. Tiptree Advisors LLC bought a new position in Array Digital Infrastructure during the second quarter valued at approximately $7,365,000. Finally, First Trust Advisors LP lifted its position in Array Digital Infrastructure by 15.4% during the first quarter. First Trust Advisors LP now owns 111,534 shares of the company’s stock valued at $5,146,000 after purchasing an additional 14,867 shares during the period. 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.