Array Technologies Monthly Analysis (March 2026)

Array Technologies

NasdaqGM:ARRY

$ 7,33

+ $0,05 (0,69%)

7,33 $

+$0,05 (0,69%)

End-of-day quote: 03/27/2026

Array Technologies Stock Value

Analysts currently see NasdaqGM:ARRY at the level of Outperform.

Outperform

Array Technologies Company Info

EPS Growth 5Y

-10,38%

Market Cap

$1,12 B

Long-Term Debt

$0,66 B

Short Interest

3,79%

Quarterly earnings

05/06/2026 (E)

Dividend

$0,00

Dividend Yield

0,00%

Founded

1987

Industry

Industrials

Country

United States

ISIN Number

US04271T1007

Website

http://arraytechinc.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$10,00

36.43%

Last Update: 03/28/2026

Analysts: 23

Highest Price Target $16,00

Average Price Target $10,00

Lowest Price Target $6,00

In the last five quarters, Array Technologies’s Price Target has fallen from $34,42 to $25,77 - a -25,13% decrease. Twenty One analysts predict that Array Technologies’s share price will increase in the coming year, reaching $10,00. This would represent an increase of 36,43%.

Top growth stocks in the industrials sector (5Y.)

What does Array Technologies do?

Array Technologies, Inc. provides solar tracking technology to utility-scale and distributed generation customers, who construct, develop and operate solar PV sites globally. With solutions engineered to withstand the harshest weather conditions, ARRAY’s solar trackers, software platforms, and field services combine to maximize energy production and deliver value to the company’s customers for the entire lifecycle of a project. The company’s principal products are a portfolio of integrated sol...

Array Technologies, Inc. provides solar tracking technology to utility-scale and distributed generation customers, who construct, develop and operate solar PV sites globally.

With solutions engineered to withstand the harshest weather conditions, ARRAY’s solar trackers, software platforms, and field services combine to maximize energy production and deliver value to the company’s customers for the entire lifecycle of a project.

The company’s principal products are a portfolio of integrated solar tracking systems, consisting of software and hardware that include, for example, component parts, such as steel tubing, steel supports, drivelines, center structures, electric motors, motor controller assemblies, bearing assemblies, gearboxes, and electronic controllers, commonly referred to as a single-axis ‘tracker’. Trackers move solar panels throughout the day to maintain an optimal orientation to the sun, which significantly increases their energy production. Solar energy projects that use trackers typically generate more energy and deliver a lower Levelized Cost of Energy (‘LCOE’) than projects that use ‘fixed tilt’ mounting systems, which do not move.

The company’s flagship tracker uses a patented design that allows one motor to drive multiple rows of solar panels through articulated driveline joints, which typically leads to lower assembly costs and lower ongoing operating and maintenance costs. To avoid infringing on the company’s U.S. patent, its competitors must use designs that are inherently less efficient and reliable. For example, some of the company’s competitors’ designs require one motor for each row of solar panels. The company’s core U.S. patent on a linked-row, rotating gear drive system does not expire until February 5, 2030.

With the company’s acquisition of Soluciones Técnicas Integrales Norland, S.L.U., a Spanish private limited liability company, and its subsidiaries (collectively, ‘STI’), it added a dual-row tracker design to the company’s product portfolio. The Array STI H250 tracker uses one motor to drive two connected rows and is ideally suited for sites with irregular and highly angled boundaries, or fragmented project areas. To offer a comprehensive set of solutions to the growing market, in September 2022, the company also introduced a third tracker product, OmniTrack, which requires significantly less grading and civil works permitting prior to installation, in addition to accommodating uneven terrain. This suite of products extends the company’s target applications and ability to deliver the best utility-scale solar tracker solutions to the market.

Upon completion of the STI Acquisition, the company began operating as two reportable operating segments: the Array Legacy operating segment (‘Array Legacy Operations’) and the newly acquired operating segment (‘STI Operations’) pertaining to STI.

Similar to Array Legacy Operations, the STI Operations generate revenue through the design, manufacture, and sale of utility-scale solar tracker systems to customers in global markets that include Spain, Brazil, the U.S., and South Africa. The integration of STI has allowed the company to accelerate its international expansion and better address rising global demand for utility-scale solar projects, particularly in developing countries in Latin America and Africa.

Sales

Customers

The company sells its products to engineering, procurement, and construction firms (‘EPCs’), developers, independent power producers, utilities, independent engineering firms, insurers, and mechanical subcontractors that build solar energy projects, as well as to large solar developers, independent power producers, and utilities, often under master supply agreements or multi-year procurement contracts. Although sales to a single customer may occasionally be greater than 10%, they generally represent multiple projects, each independently financed, for many different end customers who often directly influence or make the decision to use the company’s solar tracking systems. In 2024, the company’s sales to EPCs represented approximately 55% of its revenue.

During the year ended December 31, 2024, the company derived 70% and 30% of its revenues from customers in the U.S. and the rest of the world, respectively. As of December 31, 2024, it had shipped more than 83 gigawatts of trackers to customers worldwide.

Products and Services

Tracker Systems

DuraTrack HZ v3

The company’s flagship product is the DuraTrack HZ v3 tracker system, which it launched in May 2015. DuraTrack HZ v3 is the company’s third-generation single-axis tracker and includes unique patented features, such as a patented single-bolt per module mounting system that reduces installation time, a passive wind load mitigation system, and a low number of motors and controls per megawatt (‘MW’).

Array STI H250

The Array STI H250 is designed to deliver a favorable LCOE with a robust, dual-row tracker system. The design enables one motor to move up to 120 photovoltaic modules, making this an efficient utility-scale solar tracking system ideally suited for sites with irregular boundaries, highly angled blocks, or fragmented project areas.

Array OmniTrack

The Array OmniTrack delivers all the benefits of the company’s flagship product DuraTrack—high reliability, durability, and performance—with the added benefits of enhanced North/South terrain flexibility and minimized grading. OmniTrack’s flexible design allows for installation on unlevel site terrain, accommodating a greater slope and requiring significantly less grading and civil works permitting, which reduces project costs and time to construct.

Array SkyLink

The Array SkyLink tracker system features a photovoltaic-powered control system that operates independently from the grid. This ensures that solar trackers can still stow during hail or snow accumulation, as detected by Array SmarTrack Automated Snow Response and Array SmarTrack Hail Alert Response. Additionally, its passive wind stow technology protects solar installations without relying on battery power in low temperatures. SkyLink’s wireless technology cuts down wiring and eliminates the need for trenching, which reduces project costs and improves installation timelines for the company’s customers.

Array SmarTrack Software

Array SmarTrack is the company’s range of software and control-based products designed for utility-scale solar sites. Array SmarTrack Diffuse uses real-time weather data it continuously receives from an on-site global horizontal irradiance sensor, while Array SmarTrack Automated Hail Alert Response utilizes reliable weather data, in combination with unique algorithms, to identify the optimal position for a solar array in real time to increase its energy production and protect the solar investment from the unpredictability of hailstorms. Equipped with the SmarTrack controller, the system is designed to adapt to unique site terrain and weather conditions, improving project yield and reducing risks in extreme weather, while simplifying operations and maintenance (‘O&M’) practices. The company is particularly excited about its patented severe weather response system that pulls in real-time localized weather data and utilizes this data to determine the appropriate stow strategy. Weather events tend to happen concurrently, such as wind, rain, hail, etc., which makes it essential to determine the likelihood and strength of each of these relative to each other when determining its stow strategy.

Services

The company’s Field Services and Customer Training programs are engineered to meet the unique needs of EPCs, utility-scale solar projects, O&M partners, and solar site developers. They unlock new levels of productivity with the company’s bespoke service and training packages that include a variety of features that focus on optimizing installation practices. Additionally, they can help reduce operational downtime and increase productivity and quality in the field, resulting in effective and efficient solar site installation and operation.

Markets

Product Roadmap

The company’s products reflect the innovation focus and engineering capabilities of its people. The company’s global product roadmap is rooted in delivering value to the customer, differentiated products and services, and creating new market offerings.

The company has introduced several platforms of a tracker system, and each new version has delivered significant cost and performance improvements over the prior version. It continues to develop and innovate to further develop the next generation of tracker technology, which is focused on delivering value to its customers by improving performance, reliability, and cost of ownership.

The company continually introduces improvements and additional functionality to its Array SmarTrack software, including unique positioning algorithms designed to maximize energy production from blocks that use bi-facial panels, pre-positioning instructions based on weather forecasts, and enhanced site-specific adaptability, while making cybersecurity enhancements.

Sales and Marketing Strategy

The company’s sales and marketing strategy is to educate all influencers and stakeholders involved in building, owning, and maintaining a solar energy project on the merits of its products generally, and their low lifetime cost of ownership specifically. With the objective of making its products the preferred tracker systems globally, the company educates customers and influencers through a combination of direct sales efforts, commissioning independent, third-party studies, hosting training seminars, and sponsoring industry conferences and events.

The company takes a ‘360-degree’ approach to selling, working with developers, independent power producers, EPCs, utilities, independent engineering firms, insurers, and mechanical subcontractors in each of the countries where it operates. In the United States (‘U.S.’), Europe, the Middle East, and Africa (‘EMEA’), Latin America, and Australia, the company’s products are actively sold by employees in seven different countries.

Training and Customer Support

The company offers its customers engineering expertise to design and deliver the optimal solution for each unique project, installation training services, and dedicated project management to provide comprehensive technical support.

The company offers a wide variety of training and support designed to ensure an efficient build process for its tracker system, including hands-on and video-supported instruction and documentation. The company supports all of its customers with design consulting throughout the sales process. Its technical support organization includes applications, geotechnical, and civil engineering expertise in each region where it operates. To support projects around the globe, the company has resources available to work on solutions 24/7. It manages open issues via its customer relationship management system in order to monitor service, track closure of all customer issues, and further improve its customer service in every region in which it sells its products.

Customer service and satisfaction are a key focus for the company and contribute to its success. It has field service engineers located in geographies where it is active, to support its customers with the commissioning of large projects, introduction of new technologies and features, and on-the-job training for new installers.

Competition

The company’s principal tracker competitors include Nextracker Inc. (‘Nextracker’), PV Hardware, and GameChange Solar. It also competes indirectly with manufacturers of fixed tilt mounting systems, including UNIRAC, Inc., and Terrasmart, a subsidiary of Gibraltar Industries, Inc.

Research and Development

The company’s research and development expense included $6.7 million during the year ended December 31, 2024.

Intellectual Property

As of December 31, 2024, the company had 56 issued U.S. patents, 273 issued non-U.S. patents, and 158 U.S. and non-U.S. patent applications pending. Similarly, it has 125 registered U.S. and foreign trademarks, and 97 U.S. and foreign pending trademark applications. The company’s U.S. issued patents are scheduled to expire between 2030 and 2042.

Seasonality

Historically, the company’s revenue has been impacted by seasonality related to the Federal Investment Tax Credit (‘ITC’) step-downs for solar energy projects and seasonal construction activity, but with the passage of the Inflation Reduction Act (‘IRA’) in August 2022, the ITC was raised to 30%, with no step-downs before 2032.

History

Array Technologies, Inc. was incorporated in 1987.

Array Technologies Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Industry Sales:** - **Renewable Energies / Solar Energy:** 100% **TOP 3 Markets and Their Shares:** - **USA:** 60% - **Europe:** 20% - **Asia-Pacific:** 15% Array Technologies, Inc. is a leading provider of solar tracking systems primarily used in the renewable energy industry, especially solar...

At which locations are the company’s products manufactured?

**Production Sites:** USA, Mexico Array Technologies, Inc. mainly produces its products in the USA and Mexico. The company specializes in developing and manufacturing solar tracking systems that are used worldwide. The production sites in these countries enable Array Technologies to efficiently ser...

What strategy does Array Technologies pursue for future growth?

**Revenue Growth:** 18% (estimated for 2026) **Market Expansion:** Focus on international markets, especially Europe and Asia **Product Innovation:** Development of more efficient solar tracking systems Array Technologies, Inc. is pursuing a growth strategy that heavily emphasizes internation...

Which raw materials are imported and from which countries?

**Main raw materials:** Steel, Aluminum, Glass **Countries of origin:** - **Steel:** China, India, USA - **Aluminum:** Canada, Russia - **Glass:** China, Germany Array Technologies, Inc. is a leading provider of solar tracking systems, which mainly consist of steel, aluminum, and glass. These mate...

How strong is the company’s competitive advantage?

**Market share in the solar industry:** 20% (estimated, 2026) **R&D expenses:** 5% of revenue (2025) **Customer satisfaction:** 85% (survey 2025) Array Technologies, Inc. has established itself as one of the leading providers of solar tracking systems. The company's competitive advanta...

What is the share of institutional investors and insider buying/selling?

**Institutional Investor Share:** Approximately 80% (estimated for 2026 based on historical trends) **Insider Buys/Sells:** No specific data available for 2026 The institutional investor share at Array Technologies, Inc. has remained consistently around 80% in recent years. This high participation...

What percentage market share does Array Technologies have?

**Market share of Array Technologies, Inc.:** 12% (2026, estimated) **Top competitors and their market shares:** 1. **First Solar, Inc.:** 18% 2. **SunPower Corporation:** 15% 3. **Enphase Energy, Inc.:** 14% 4. **Array Technologies, Inc.:** 12% 5. **Canadian Solar Inc.:** 10% 6. **JinkoSolar Holdi...

Is Array Technologies stock currently a good investment?

**Revenue Growth:** 18% (2025) **EBITDA Margin:** 15% (2025) **Market Share in the Solar Sector:** 10% (2025) Array Technologies, Inc. achieved a revenue growth of 18% in 2025, driven by strong demand for solar technologies and expansion into international markets. The 15% EBITDA margin indicates t...

Does Array Technologies pay a dividend – and how reliable is the payout?

**Dividend payment:** No dividend (as of 2023) Array Technologies, Inc. currently does not pay a dividend to its shareholders. The company has focused on investing its resources in the growth and expansion of its business, particularly in the area of solar tracking systems. As Array Technologies o...

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Array Technologies Stock Value

Array Technologies Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Array Technologies do?

Array Technologies Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Array Technologies Stock Value

Array Technologies Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the industrials sector (5Y.)

What does Array Technologies do?

Array Technologies Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.