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

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a research report on Wednesday, January 21st. Royal Bank Of Canada dropped their price target on Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Wall Street Zen raised Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup increased their price objective on shares of Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Wells Fargo & Company decreased 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, February 12th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Array Digital Infrastructure currently has an average rating of “Hold” and an average price target of $57.67.

Institutional Trading of Array Digital Infrastructure

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP bought a new position in shares of Array Digital Infrastructure in the fourth quarter valued at $120,237,000. Vanguard Group Inc. acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth $76,634,000. Gamco Investors INC. ET AL acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth $51,720,000. Loomis Sayles & Co. L P acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $40,842,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Array Digital Infrastructure during the fourth quarter valued at $29,649,000. 18.03% of the stock is currently owned by institutional investors.

Array Digital Infrastructure Stock Performance

Shares of AD stock traded up $0.24 during mid-day trading on Tuesday, hitting $51.12. 238,848 shares of the stock traded hands, compared to its average volume of 305,147. Array Digital Infrastructure has a twelve month low of $44.03 and a twelve month high of $79.17. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $51.89. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 284.00 and a beta of 0.17.

Array Digital Infrastructure Dividend Announcement

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

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.