Hitting a new 52-week low can be a pivotal moment for any stock.
These floors often mark either the beginning of a turnaround story or confirmation that a company faces serious headwinds.
A company that generates cash isn’t automatically a winner.
Some businesses stockpile cash but fail to reinvest wisely, limiting their ability to expand.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the renewable energy industry, including Plug Power (NASDAQ:PLUG) and its peers.
Looking back on renewable energy stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Array (NASDAQ:ARRY) and its peers.
Over the last six months, Array shares have sunk to $5.70, producing a disappointing 10.5% loss - worse than the S&P 500’s 1.4% drop. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
Many small-cap stocks have limited Wall Street coverage, giving savvy investors the chance to act before everyone else catches on.
But the flip side is that these businesses have increased downside risk because they lack the scale and staying power of their larger competitors.
Shares of solar tracking systems manufacturer Array (NASDAQ:ARRY)
fell 21.4% in the afternoon session after 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.
Solar tracking systems manufacturer Array (NASDAQ:ARRY) announced better-than-expected revenue in Q4 CY2024, but sales fell by 19.4% year on year to $275.2 million. The company expects next quarter’s revenue to be around $265 million, coming in 26.3% above analysts’ estimates. Its non-GAAP profit of $0.16 per share was in line with analysts’ consensus estimates.
Solar trackers enable solar panels to generate 20% to 30% more power since they adjust the panels to follow the sun during the day. Here's 2 of the top makers.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Bloom Energy (NYSE:BE) and its peers.
Array’s stock price has taken a beating over the past six months, shedding 39.4% of its value and falling to $6.75 per share. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at renewable energy stocks, starting with Array (NASDAQ:ARRY).
Solar tracking systems manufacturer Array (NASDAQ:ARRY) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 34% year on year to $231.4 million. The company’s full-year revenue guidance of $910 million at the midpoint came in 3.7% below analysts’ estimates. Its non-GAAP profit of $0.17 per share was 25.5% above analysts’ consensus estimates.
Goldman analysts highlight 9 companies with IRA exposure. Array Tech, Enphase, Nextracker projected for 114%, 75%, 58% upside, while Tesla's gains may be modest.
Solar tracking systems manufacturer Array (NASDAQ:ARRY)
will be announcing earnings results tomorrow after the bell. Here’s what investors should know.
