Array Digital Infrastructure (NYSE:AD) Hits New 52-Week Low – Here’s What Happened

Array Digital Infrastructure Inc. (NYSE:AD)’s share price hit a new 52-week low on Thursday . The company traded as low as $45.63 and last traded at $45.8290, with a volume of 94465 shares trading hands. The stock had previously closed at $47.08.

Analyst Upgrades and Downgrades

AD has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on Array Digital Infrastructure from $82.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Array Digital Infrastructure from a “buy” rating to a “hold” rating in a report on Sunday. Zacks Research upgraded shares of Array Digital Infrastructure to a “hold” rating in a research report on Tuesday, August 12th. Finally, Royal Bank Of Canada started coverage on shares of Array Digital Infrastructure in a report on Monday, October 27th. They set an “outperform” rating and a $62.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.00.

Array Digital Infrastructure Stock Down 3.8%

The stock has a 50 day simple moving average of $49.44. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -150.97 and a beta of 0.18. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.26 EPS for the quarter. Array Digital Infrastructure had a negative net margin of 0.68% and a positive return on equity of 1.67%. The business had revenue of $922.00 million for the quarter.

Insider Activity at Array Digital Infrastructure

In other news, Director Harry J. Harczak, Jr. sold 1,960 shares of Array Digital Infrastructure stock in a transaction on Monday, August 18th. The shares were sold at an average price of $76.20, for a total value of $149,352.00. Following the completion of the sale, the director owned 19,374 shares in the company, valued at $1,476,298.80. The trade was a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by company insiders.

About Array Digital Infrastructure

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.