Array Digital Infrastructure (NYSE:AD) Sets New 12-Month Low – What’s Next?

Array Digital Infrastructure Inc. (NYSE:AD)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $35.01 and last traded at $34.9370, with a volume of 211171 shares traded. The stock had previously closed at $36.24.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AD shares. Royal Bank Of Canada cut Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, May 12th. Raymond James Financial downgraded Array Digital Infrastructure from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Array Digital Infrastructure in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Array Digital Infrastructure has a consensus rating of “Hold” and an average target price of $54.00.

Array Digital Infrastructure Stock Down 0.3%

The company’s 50-day moving average is $45.78 and its 200 day moving average is $48.59. The stock has a market capitalization of $3.00 billion, a PE ratio of 14.43 and a beta of 0.25. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36.

Array Digital Infrastructure Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $11.00 per share. The ex-dividend date of this dividend was Thursday, June 11th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AD. Royal Bank of Canada acquired a new position in shares of Array Digital Infrastructure in the 4th quarter valued at about $25,000. Public Employees Retirement System of Ohio purchased a new position in Array Digital Infrastructure during the first quarter valued at approximately $33,000. Quadrant Capital Group LLC purchased a new stake in Array Digital Infrastructure in the 4th quarter worth approximately $48,000. Empowered Funds LLC purchased a new stake in Array Digital Infrastructure in the 4th quarter worth approximately $54,000. Finally, Harbour Investments Inc. acquired a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $61,000. 18.03% of the stock is currently owned by hedge funds and other institutional investors.

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.