Array Digital Infrastructure (NYSE:AD) Reaches New 1-Year Low – Time to Sell?

Array Digital Infrastructure Inc. (NYSE:AD) reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $32.98 and last traded at $33.13, with a volume of 30765 shares. The stock had previously closed at $34.14.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Array Digital Infrastructure from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. reduced their price target on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 19th. Citigroup decreased their price objective on shares of Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada reduced their target price on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Array Digital Infrastructure currently has an average rating of “Moderate Buy” and a consensus price target of $47.40.

Array Digital Infrastructure Trading Down 2.6%

The stock’s 50 day moving average is $35.88 and its 200-day moving average is $41.43. The company has a market cap of $2.87 billion, a P/E ratio of 5.35 and a beta of 0.29. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Array Digital Infrastructure (NYSE:AD) last posted its quarterly earnings results on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, topping the consensus estimate of $0.27 by $3.88. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%.The firm had revenue of $54.07 million during the quarter. Research analysts anticipate that Array Digital Infrastructure Inc. will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Array Digital Infrastructure

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new position in Array Digital Infrastructure in the first quarter worth approximately $33,000. Waverly Advisors LLC boosted its holdings in Array Digital Infrastructure by 10.5% in the 2nd quarter. Waverly Advisors LLC now owns 21,411 shares of the company’s stock worth $776,000 after buying an additional 2,037 shares during the period. Navellier & Associates Inc. increased its stake in Array Digital Infrastructure by 41.3% in the 2nd quarter. Navellier & Associates Inc. now owns 11,002 shares of the company’s stock worth $399,000 after buying an additional 3,213 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Array Digital Infrastructure by 24.2% in the 1st quarter. Bank of New York Mellon Corp now owns 17,718 shares of the company’s stock worth $818,000 after buying an additional 3,457 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Array Digital Infrastructure by 17.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,919 shares of the company’s stock worth $904,000 after buying an additional 3,718 shares in the last quarter. 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.