Array Technologies (ARRY)
Builds solar trackers, foundations, software, and field support for utility-scale PV projects.
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Sells integrated solar tracking systems, fixed-tilt and foundation products, control software, and project services to developers, utilities, independent power producers, and EPC contractors. Revenue is concentrated in the U.S., with international reach through STI operations and deliveries across more than thirty countries.
Manufactures utility-scale solar tracker systems through Array Legacy Operations and STI Operations, including DuraTrack, STI H250, OmniTrack, SkyLink, Hail XP, DuraTrack D2S, and SmarTrack. APA added fixed-tilt racking, mounting, and foundation products such as ground screws, helicals, c-piles, and ballast foundations.
Sales flow through project contracts, master supply agreements, and multi-year procurement contracts with solar developers, independent power producers, utilities, and EPCs. Demand is concentrated in the U.S., while STI adds manufacturing and assembly in Spain and Brazil for local and international markets.
Execution depends on tracker design, software controls, supply-chain diversification, field support, and project timing. The business is shaped by customer concentration, renewable-energy policy, tariffs, steel and component availability, and weather-related operating requirements such as wind and hail stow features.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 18, 2026 | UBS | Downgrade | Target: $10 | Target: $5 |
| Sep 8, 2026 | Piper Sandler | Initiate | Rating: —Target: $8 | Target: $5 |
| Aug 6, 2026 | Robert W. Baird | Target | Target: $11 | Target: $9 |
| Aug 6, 2026 | Deutsche Bank | Target | Target: $8 | Target: $7.50 |
| Aug 6, 2026 | UBS | Reiterate | Rating: —Target: $11 | Target: $10 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $307.3M · Total debt $752.9M · Total assets $1.53B · Shareholders' equity −$202.1M
- Revenue
- $342.1M
- Operating income
- $34.8M
- Net income
- $24.3M
No dividends on record.
| Institutions | 131.96% | 202.99M shares | |
|---|---|---|---|
| 290 holders · as of Jun 30, 2026 | |||
| Insiders | 0.66% | 1.02M shares | |
| 12 holders · as of May 21, 2026 | |||
| Strategic holders | 29.25% | 44.99M shares | |
| 4 holders · as of May 5, 2026 | |||
| Adds to | 161.87% | ||
153.83M company shares as of Aug 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 161.87%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 19.02% | 29.25M | as of Jun 30, 2026 |
FMR LLCStrategic | 9.97% | 15.34M | filed Nov 10, 2020 |
Hill City Capital, LPInstitution | 8.38% | 12.89M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 8.20% | 12.61M | filed May 1, 2026 |
Grantham, Mayo, van Otterloo & Co. LLCInstitution | 7.73% | 11.89M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
