Long Position on ARRY @ $41.00 on 10/26/2020 (Momentum)

Array Technologies, Inc. (ARRY) provides solar tracking solutions and services for utility-scale projects.

Its products include DuraTrack HZ v3, a single-axis solar tracking system; and SmarTrack, a machine learning software that automatically adjusts module angles in response to weather and site conditions. 

Array’s main product is its DuraTrack system, which rotates PV panels across a single north-south axis throughout the day to follow the sun. Trackers add upfront costs to a solar project but allow panels to generate more energy compared to a “fixed-tilt” mounting system. Over the course of a project’s lifetime, that results in a substantially lower levelized cost of energy.

In 2020, the value of the market for solar tracking systems will surpass sales of fixed-tilt systems for the first time.  Shares of this recent IPO have formed a bullish "flag" and are expected to move higher out of this formation. 

Entry Point: $41.00

Trading Range: $29.05 to $44.44

Stop Loss: $39.00

Target Price: $45.20

Updates

11/6/2020 10:31:39 AM

ARRY closed at $46.50

Position closed on 11/6/2020 at price of $46.50 with a 13.41% gain in 11 days.

Back to Portfolio