What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) jumped 6.9% in the afternoon session after 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.
The shares closed the day at $10.05, up 6.1% from previous close.
Is now the time to buy Array? Access our full analysis report here.
What Is The Market Telling Us
Array’s shares are extremely volatile and have had 72 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 biggest move we wrote about over the last year was 10 months ago when the stock dropped 21.4% on the news that the company reported weaker than expected fourth quarter 2024 results, with EBITDA missing Wall Street's estimates and full-year guidance coming in significantly below expectations, not exactly what investors wanted to see. On the plus side, the company offered a strong revenue outlook for next quarter, beating analysts' forecasts. Management is projecting over 20% year-on-year growth in 2025, backed by a solid order backlog and rising demand for its solar tracking solutions. Overall, earnings shortfalls and macro challenges made this a weaker quarter, but if the company can execute well, that bullish revenue guidance suggests some potential upside ahead.
Array is up 51.2% since the beginning of the year, and at $10.19 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 $230.16.
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