Short Interest in Array Digital Infrastructure Inc. (NYSE:AD) Increases By 31.5%

Array Digital Infrastructure Inc. (NYSE:AD) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 2,062,503 shares, a growth of 31.5% from the March 31st total of 1,568,020 shares. Based on an average daily trading volume, of 137,035 shares, the short-interest ratio is presently 15.1 days. Approximately 2.4% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages have weighed in on AD. Wall Street Zen raised Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Wells Fargo & Company dropped their price target on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Royal Bank Of Canada decreased their price objective on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 9th. Citigroup lowered their price objective on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Finally, Weiss Ratings upgraded shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, March 16th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Array Digital Infrastructure currently has an average rating of “Moderate Buy” and an average target price of $54.50.

Array Digital Infrastructure Stock Up 0.7%

Array Digital Infrastructure stock opened at $48.21 on Wednesday. The stock has a market cap of $4.17 billion, a PE ratio of 86.09 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. Array Digital Infrastructure has a one year low of $44.03 and a one year high of $79.17. The stock has a fifty day moving average of $48.20 and a 200 day moving average of $49.53.

Array Digital Infrastructure (NYSE:AD) last announced its earnings results on Friday, February 20th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.18. The business had revenue of $60.33 million for the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.Array Digital Infrastructure’s revenue for the quarter was up 131.2% compared to the same quarter last year. As a group, sell-side analysts predict that Array Digital Infrastructure will post 5.01 EPS for the current year.

Hedge Funds Weigh In On Array Digital Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in AD. Dimensional Fund Advisors LP bought a new stake in Array Digital Infrastructure during the fourth quarter valued at approximately $120,237,000. Jericho Capital Asset Management L.P. bought a new position in Array Digital Infrastructure in the fourth quarter worth approximately $97,366,000. Vanguard Group Inc. purchased a new position in shares of Array Digital Infrastructure during the 4th quarter worth $76,634,000. Gamco Investors INC. ET AL purchased a new position in shares of Array Digital Infrastructure during the 4th quarter worth $51,720,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $40,842,000. 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.