Array Digital Infrastructure Inc. (NYSE:AD) Short Interest Update

Array Digital Infrastructure Inc. (NYSE:AD) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,206,194 shares, a drop of 17.5% from the January 15th total of 1,462,179 shares. Based on an average daily trading volume, of 455,881 shares, the short-interest ratio is presently 2.6 days. Approximately 1.4% of the shares of the company are short sold. Approximately 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 455,881 shares, the short-interest ratio is presently 2.6 days.

Array Digital Infrastructure Stock Performance

Array Digital Infrastructure stock traded up $0.41 during mid-day trading on Monday, reaching $50.97. The company’s stock had a trading volume of 184,897 shares, compared to its average volume of 305,737. Array Digital Infrastructure has a 12-month low of $44.03 and a 12-month high of $79.17. The firm has a market cap of $4.33 billion, a P/E ratio of 283.16 and a beta of 0.17. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $51.89.

Array Digital Infrastructure Announces Dividend

The business also recently declared a special dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd were given a $10.25 dividend. The ex-dividend date was Friday, January 23rd.

Analyst Upgrades and Downgrades

AD has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday. Wall Street Zen raised Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Citigroup upped their price target on Array Digital Infrastructure from $37.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Royal Bank Of Canada cut their price target on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Array Digital Infrastructure has an average rating of “Hold” and an average target price of $57.67.

Institutional Trading of Array Digital Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. bought a new position in Array Digital Infrastructure in the 4th quarter worth about $910,000. Aberdeen Group plc bought a new stake in shares of Array Digital Infrastructure during the fourth quarter valued at about $15,528,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter worth about $99,000. Signaturefd LLC purchased a new stake in shares of Array Digital Infrastructure in the fourth quarter worth about $73,000. Finally, State of Alaska Department of Revenue bought a new position in shares of 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.