What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) jumped in the pre market session after analysts at both Deutsche Bank and Baird initiated coverage on the stock with favorable ratings.
Deutsche Bank started its coverage with a 'Buy' rating, while Baird assigned an 'Outperform' rating. Both firms set a price target of $11.00 for the stock. In its analysis, Deutsche Bank called Array Technologies a "turnaround story," citing the management's focus on high-quality customers, a growing backlog of orders, and efforts to strengthen the company's financial standing. The positive analyst sentiment came as the broader clean energy sector experienced a strong rally, supported by record global investment.
After the initial pop the shares cooled down to $8.07, up 0.2% from previous close.
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What Is The Market Telling Us
Array’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 5% on the news that the company announced its intention to form a partnership with Aluminum Products Company (ALUPCO®) to drive clean energy advancement in Saudi Arabia and the MENA region.
Array Technologies, a global leader in utility-scale solar tracking solutions, teamed up with ALUPCO®, a major aluminum extrusion company in the Middle East and North Africa. The collaboration aimed to combine Array's expertise in solar technology with ALUPCO's local prominence and manufacturing capabilities. This move signaled a significant effort by Array to expand its presence and tap into the growing clean energy market in a key international region, which investors viewed favorably.
Array is up 19.7% since the beginning of the year, but at $8.07 per share, it is still trading 15.6% below its 52-week high of $9.56 from August 2025. Investors who bought $1,000 worth of Array’s shares at the IPO in October 2020 would now be looking at an investment worth $221.40.
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