Array Digital Infrastructure (NYSE:AD) Sets New 12-Month Low – Time to Sell?

Array Digital Infrastructure Inc. (NYSE:AD) hit a new 52-week low during trading on Tuesday . The company traded as low as $38.25 and last traded at $38.74, with a volume of 247315 shares traded. The stock had previously closed at $38.86.

Analyst Upgrades and Downgrades

AD has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. Citigroup decreased their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Wall Street Zen cut shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Royal Bank Of Canada downgraded shares of Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price target for the company. in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

Array Digital Infrastructure Price Performance

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 16.07 and a beta of 0.22. The business has a fifty day moving average price of $48.57 and a 200 day moving average price of $49.64.

Array Digital Infrastructure Announces Dividend

The firm also recently announced a special dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a $11.00 dividend. The ex-dividend date is Thursday, June 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada bought a new stake in shares of Array Digital Infrastructure during the 4th quarter valued at approximately $25,000. Public Employees Retirement System of Ohio bought a new position in Array Digital Infrastructure in the 1st quarter valued at approximately $33,000. Quadrant Capital Group LLC bought a new position in Array Digital Infrastructure in the 4th quarter valued at approximately $48,000. Empowered Funds LLC acquired a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $54,000. Finally, Harbour Investments Inc. acquired a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $61,000. Institutional investors own 18.03% of the company’s stock.

Array Digital Infrastructure Company Profile

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.