What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) jumped 5.6% in the afternoon session after Barclays raised its price target on the stock from $8.00 to $9.00.
While the firm kept its 'Equal-Weight' rating, the higher price target suggested a more positive view of the company's future. This sentiment was supported by Array's recent operational success, which included a reported 70% growth in quarterly revenue and $1.9 billion in new orders. The company's performance signaled a significant turnaround from being a loss-making business in 2024. Adding to the upbeat outlook, the broader solar sector has seen strong growth, with solar power becoming a very competitive electricity source in many parts of the European Union.
After the initial pop the shares cooled down to $9.76, up 4.6% from previous close.
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What Is The Market Telling Us
Array’s shares are extremely volatile and have had 76 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 17 days ago when the stock dropped 2.9% on the news that major indices pulled back from record highs reached the previous week.
The S&P 500 and Nasdaq were under pressure as the dominant artificial intelligence trade cooled off. Notable names like Nvidia were down as traders locked in profits following a banner year where the Nasdaq surged over 20%. With the S&P 500 recently hitting intraday highs near 6,945, this dip reflected a shift in internal momentum rather than a response to major economic news.
Array is flat since the beginning of the year, and at $9.76 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 $212.56.
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