What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) fell 4.3% in the morning session after the stock pulled back from a recent 52-week high, appearing to give back some of its recent gains.
This move followed a strong, multi-day rally where the stock gained for three consecutive days and reached a 52-week high of $10.38. The prior positive momentum was fueled by the company's third-quarter 2025 financial results, which surpassed market expectations. Array reported earnings per share of $0.30, well above the $0.19 forecast, while revenue of $393 million also significantly beat estimates. Following the strong report, UBS raised its price target for the company to $15.00 from $9.00.
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What Is The Market Telling Us
Array’s shares are extremely volatile and have had 73 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 21 hours ago when the stock gained 6.9% on the news that the stock hit a 52-week high amid strong company performance and positive sentiment across the solar sector. The renewable energy equipment provider's third-quarter 2025 financial results surpassed market expectations, with earnings per share (EPS) of $0.30, which was nearly 58% above the forecast. Revenue for the quarter also significantly exceeded projections. This strong performance was part of a larger trend of impressive earnings growth.
Adding to the positive news, Morgan Stanley raised its price target on the company's shares. The move also came as the broader renewable energy sector saw a late-year rally, lifting related stocks. Investors were further encouraged by Array's acquisition of APA Solar, a move that helps the company access certain tax credits and improve efficiencies.
Array is up 43.1% since the beginning of the year, and at $9.65 per share, it is trading close to its 52-week high of $10.29 from October 2025. Investors who bought $1,000 worth of Array’s shares 5 years ago would now be looking at an investment worth $213.86.
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