Array Digital Infrastructure Inc. (NYSE:AD) Short Interest Update
by Mitch Edgeman · The Markets DailyArray Digital Infrastructure Inc. (NYSE:AD – Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 1,568,020 shares, an increase of 24.6% from the March 15th total of 1,258,091 shares. Based on an average daily volume of 447,277 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.9% of the company’s stock are short sold.
Hedge Funds Weigh In On Array Digital Infrastructure
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AD. Royal Bank of Canada acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $25,000. Quadrant Capital Group LLC acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $48,000. Empowered Funds LLC acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $54,000. Harbour Investments Inc. acquired a new stake in shares of Array Digital Infrastructure during the fourth quarter worth $61,000. Finally, Signaturefd LLC acquired a new position in Array Digital Infrastructure in the fourth quarter valued at about $73,000. 18.03% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
AD has been the topic of a number of recent research reports. Raymond James Financial set a $53.00 price objective on shares of Array Digital Infrastructure in a report on Monday, February 23rd. Weiss Ratings raised shares of Array Digital Infrastructure from a “sell (d)” rating to a “hold (c)” rating in a research note on Monday, March 16th. Wells Fargo & Company decreased their target price on shares of Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Royal Bank Of Canada decreased their target price on shares of Array Digital Infrastructure from $60.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 9th. Finally, Wall Street Zen raised shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.
Check Out Our Latest Research Report on AD
Array Digital Infrastructure Stock Up 2.4%
Shares of NYSE:AD traded up $1.15 during midday trading on Thursday, hitting $49.49. The stock had a trading volume of 68,210 shares, compared to its average volume of 281,560. Array Digital Infrastructure has a 12 month low of $44.03 and a 12 month high of $79.17. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $48.39 and its 200-day simple moving average is $49.60. The company has a market cap of $4.21 billion, a P/E ratio of 88.38 and a beta of 0.17.
Array Digital Infrastructure (NYSE:AD – Get Free Report) last released its quarterly earnings data on Friday, February 20th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.18. Array Digital Infrastructure had a net margin of 2.51% and a return on equity of 4.89%. The firm had revenue of $60.33 million during the quarter. The firm’s revenue for the quarter was up 131.2% compared to the same quarter last year.
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.