Array Digital Infrastructure (NYSE:AD) Trading Up 11.4% – Still a Buy?

Array Digital Infrastructure Inc. (NYSE:AD) shares shot up 11.4% during mid-day trading on Friday . The stock traded as high as $55.44 and last traded at $54.94. 124,191 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 250,525 shares. The stock had previously closed at $49.30.

Analysts Set New Price Targets

Several research firms recently issued reports on AD. Raymond James Financial set a $53.00 price target on Array Digital Infrastructure in a research note on Monday, February 23rd. Weiss Ratings upgraded Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, March 16th. Wells Fargo & Company reduced their price target on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Wall Street Zen upgraded Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Citigroup reduced their price target on Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.50.

Array Digital Infrastructure Trading Up 14.9%

The business has a 50-day moving average price of $48.21 and a two-hundred day moving average price of $49.52. The stock has a market capitalization of $4.89 billion, a P/E ratio of 100.87 and a beta of 0.23. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.26.

Array Digital Infrastructure (NYSE:AD) last released its earnings results on Friday, February 20th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.18. The firm had revenue of $60.33 million during the quarter. Array Digital Infrastructure had a return on equity of 4.89% and a net margin of 2.51%.The company’s revenue for the quarter was up 131.2% on a year-over-year basis. On average, analysts expect that Array Digital Infrastructure Inc. will post 5.01 EPS for the current fiscal year.

Institutional Trading of Array Digital Infrastructure

A number of institutional investors have recently modified their holdings of AD. Royal Bank of Canada bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $25,000. Quadrant Capital Group LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $48,000. Empowered Funds LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $54,000. Harbour Investments Inc. bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $61,000. Finally, Signaturefd LLC bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at $73,000. 18.03% of the stock is currently owned by institutional investors.

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. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.