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Array Technologies, Inc. (ARRY) manufactures ground-mounting systems used in solar energy projects. 
The company sells its products to engineering, procurement and construction firms that build solar energy projects and to large solar developers, independent power producers and utilities, master supply agreements or multi-year procurement contracts.
It has offices in Europe, Central America, and Australia. The company's products include DuraTrack and SmarTrack. In January 2022, Array Technologies acquired one of Europe’s leading tracker manufacturers, STI Norland.
Shares have formed a bullish "flag" following its latest earnings report. On August 8th, ARRY reported earnings of $0.41 per share on revenue of $507.73 million for the second quarter ended June 2023. The consensus earnings estimate was $0.17 per share on revenue of $448.84 million. The company beat expectations by 115.79% while revenue grew 19.48% on a year-over-year basis.
Guided Higher: The company said it expects 2023 earnings of $1.00 to $1.07 per share on revenue of $1.65 billion to $1.72 billion. The company's previous guidance was earnings of $0.75 to $0.85 per share but now expects revenue of $1.80 billion to $1.90 billion, and the current consensus earnings estimate is $0.80 per share on revenue of $1.85 billion for the year ending December 31, 2023.
Entry Point: $20.50
Stop Loss: $19.00
Trading Range: $13.86 to $24.99
Target Price: $23.00
