Array Digital Infrastructure (NYSE:AD) Hits New 52-Week Low – Time to Sell?

Array Digital Infrastructure Inc. (NYSE:AD)’s stock price hit a new 52-week low on Monday . The stock traded as low as $35.01 and last traded at $34.9370, with a volume of 211171 shares changing hands. The stock had previously closed at $36.24.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AD shares. JPMorgan Chase & Co. dropped their price target on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Royal Bank Of Canada downgraded shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 target price on the stock. in a research note on Tuesday, May 12th. Wall Street Zen cut shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Raymond James Financial downgraded shares of Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Array Digital Infrastructure in a report on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Array Digital Infrastructure presently has an average rating of “Hold” and an average target price of $54.00.

Array Digital Infrastructure Trading Down 4.0%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $3.01 billion, a PE ratio of 14.44 and a beta of 0.25. The stock has a 50-day simple moving average of $46.33 and a two-hundred day simple moving average of $48.81.

Array Digital Infrastructure Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $11.00 per share. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Investors Weigh In On Array Digital Infrastructure

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new stake in Array Digital Infrastructure during the 4th quarter valued at $120,237,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Array Digital Infrastructure in the fourth quarter worth $97,366,000. Vanguard Group Inc. bought a new stake in shares of Array Digital Infrastructure in the fourth quarter worth $76,634,000. Gamco Investors INC. ET AL purchased a new stake in Array Digital Infrastructure during the fourth quarter valued at $51,720,000. Finally, Loomis Sayles & Co. L P bought a new position in Array Digital Infrastructure in the fourth quarter valued at about $40,842,000. Institutional investors own 18.03% of the company’s stock.

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. 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.