Array Digital Infrastructure (NYSE:AD) Reaches New 52-Week Low – Here’s What Happened

Array Digital Infrastructure Inc. (NYSE:AD)’s share price hit a new 52-week low on Wednesday . The company traded as low as $44.03 and last traded at $44.49, with a volume of 169340 shares traded. The stock had previously closed at $44.45.

Analysts Set New Price Targets

Several research firms have recently issued reports on AD. Royal Bank Of Canada began coverage on shares of Array Digital Infrastructure in a research note on Monday, October 27th. They set an “outperform” rating and a $62.00 target price on the stock. Wells Fargo & Company lowered their price target on Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Zacks Research raised Array Digital Infrastructure to a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen downgraded Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Array Digital Infrastructure in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Array Digital Infrastructure has a consensus rating of “Hold” and a consensus price target of $62.00.

Array Digital Infrastructure Stock Performance

The stock has a 50 day moving average of $48.88. The stock has a market cap of $3.78 billion, a P/E ratio of -148.30 and a beta of 0.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.71.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.26 earnings per share (EPS) for the quarter. Array Digital Infrastructure had a positive return on equity of 1.67% and a negative net margin of 0.68%.The firm had revenue of $922.00 million for the quarter.

About Array Digital Infrastructure

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.