Array Technologies's Options Frenzy: What You Need to Know

Deep-pocketed investors have adopted a bullish approach towards Array Technologies ARRY, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in ARRY usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Array Technologies. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 61% leaning bullish and 38% bearish. Among these notable options, 2 are puts, totaling $162,576, and 11 are calls, amounting to $509,764.

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Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $12.5 and $20.0 for Array Technologies, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Array Technologies options trades today is 3063.71 with a total volume of 13,582.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Array Technologies's big money trades within a strike price range of $12.5 to $20.0 over the last 30 days.

Array Technologies Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Array Technologies

Array Technologies Inc manufacturer of ground-mounting systems used in solar energy projects. The company's product is an integrated system of steel supports, electric motors, gearboxes and electronic controllers referred to as a single-axis tracker that move solar panels throughout the day to maintain an optimal orientation to the sun, which increases their energy production. Its operations are in the United States, Australia, Spain, Brazil and Rest of the World with the United States deriving the majority of the revenue.

In light of the recent options history for Array Technologies, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Array Technologies

• With a volume of 3,046,949, the price of ARRY is up 5.3% at $16.29.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 109 days.

Professional Analyst Ratings for Array Technologies

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $28.0.

• An analyst from Goldman Sachs persists with their Buy rating on Array Technologies, maintaining a target price of $31.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Array Technologies with a target price of $30.
• In a cautious move, an analyst from Mizuho downgraded its rating to Neutral, setting a price target of $19.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Array Technologies with a target price of $30.
• Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on Array Technologies with a target price of $30.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Array Technologies options trades with real-time alerts from Benzinga Pro.