What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) jumped 10.3% in the afternoon session after the stock's positive momentum continued as analysts at both Baird and Deutsche Bank initiated coverage on the stock with favorable ratings. Baird assigned an "Outperform" rating, while Deutsche Bank started its coverage with a "Buy" rating, with both firms setting a price target of $11. In its analysis, Baird noted that the solar tracker maker stands to benefit from U.S. policy clarity and rising utility-scale solar demand. Deutsche Bank referred to Array Technologies as a "turnaround story," citing the management's focus on high-quality customers and a growing backlog of orders. The positive analyst sentiment coincided with a broader rally in the clean energy sector, supported by favorable developments such as changes in the EU's electricity market to better integrate solar energy.
The shares closed the day at $9.13, up 12% from previous close.
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What Is The Market Telling Us
Array’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. But moves this big are rare even for Array and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 1 day ago when the stock gained on the news that analysts at both Deutsche Bank and Baird initiated coverage on the stock with favorable ratings.
Array is up 35.2% since the beginning of the year, and at $9.11 per share, it is trading close to its 52-week high of $9.56 from August 2025. Investors who bought $1,000 worth of Array’s shares at the IPO in October 2020 would now be looking at an investment worth $249.93.
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