Array Digital Infrastructure Inc. (NYSE:AD) Stock Now Rated “Hold” by Wall Street Analysts

Array Digital Infrastructure Inc. (NYSE:AD) has been assigned an average rating of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $47.40.

Several brokerages recently commented on AD. JPMorgan Chase & Co. cut their price target on shares of Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Weiss Ratings downgraded Array Digital Infrastructure from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, October 19th. Finally, Citigroup dropped 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 report on Thursday, August 13th.

Array Digital Infrastructure Trading Down 4.6%

AD stock opened at $28.99 on Wednesday. The firm has a fifty day moving average price of $34.47 and a 200 day moving average price of $41.76. Array Digital Infrastructure has a fifty-two week low of $28.80 and a fifty-two week high of $60.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 1.11. The firm has a market cap of $2.51 billion, a PE ratio of 3.90 and a beta of 0.34.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, November 6th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.73. Array Digital Infrastructure had a net margin of 291.79% and a return on equity of 8.67%. The firm had revenue of $53.87 million for the quarter. During the same quarter in the prior year, the company posted ($0.44) earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts anticipate that Array Digital Infrastructure will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Array Digital Infrastructure

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp increased its position in Array Digital Infrastructure by 414.9% during the third quarter. Fifth Third Bancorp now owns 1,519 shares of the company’s stock worth $51,000 after purchasing an additional 1,224 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Array Digital Infrastructure by 1,683.2% in the third quarter. Asset Management One Co. Ltd. now owns 14,230 shares of the company’s stock worth $480,000 after acquiring an additional 13,432 shares in the last quarter. Signaturefd LLC increased its position in shares of Array Digital Infrastructure by 38.7% during the third quarter. Signaturefd LLC now owns 1,954 shares of the company’s stock worth $66,000 after acquiring an additional 545 shares during the period. State of Alaska Department of Revenue grew its stake in Array Digital Infrastructure by 0.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 87,182 shares of the company’s stock worth $2,939,000 after purchasing an additional 423 shares in the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Array Digital Infrastructure by 132.1% during the 2nd quarter. Engineers Gate Manager LP now owns 29,603 shares of the company’s stock worth $1,073,000 after purchasing an additional 16,851 shares during the period. Institutional investors and hedge funds 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.