Array Digital Infrastructure (NYSE:AD) Sets New 12-Month Low – Should You Sell?

Array Digital Infrastructure Inc. (NYSE:AD) reached a new 52-week low on Monday. The stock traded as low as $32.66 and last traded at $32.7050, with a volume of 68,024 shares trading hands. The stock had previously closed at $33.47.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AD shares. JPMorgan Chase & Co. lowered their price target on Array Digital Infrastructure from $54.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 19th. Citigroup reduced their price objective on Array Digital Infrastructure from $45.02 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada decreased their price objective on Array Digital Infrastructure from $52.00 to $40.00 and set a “sector perform” rating on the stock in a report on Friday, July 10th. Finally, Weiss Ratings lowered Array Digital Infrastructure from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Array Digital Infrastructure has a consensus rating of “Hold” and a consensus price target of $47.40.

Array Digital Infrastructure Trading Up 0.9%

The stock has a market cap of $2.86 billion, a P/E ratio of 5.33 and a beta of 0.29. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day simple moving average is $35.55 and its 200 day simple moving average is $40.61.

Array Digital Infrastructure (NYSE:AD) last released its quarterly earnings data on Friday, August 7th. The company reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $3.88. Array Digital Infrastructure had a return on equity of 8.52% and a net margin of 250.79%. The company had revenue of $54.07 million for the quarter. On average, analysts expect that Array Digital Infrastructure Inc. will post 1.15 earnings per share for the current fiscal year.

Institutional Trading of Array Digital Infrastructure

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Array Digital Infrastructure in the 1st quarter worth about $33,000. Weiss Asset Management LP acquired a new stake in shares of Array Digital Infrastructure during the 1st quarter worth about $206,000. Jupiter Topco LLC acquired a new stake in shares of Array Digital Infrastructure during the 2nd quarter worth about $229,000. Inceptionr LLC acquired a new stake in shares of Array Digital Infrastructure during the 1st quarter worth about $295,000. Finally, Legal & General Group Plc bought a new position in Array Digital Infrastructure during the 2nd quarter valued at about $305,000. 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.