Array Digital Infrastructure Inc. (NYSE:AD) Receives Average Recommendation of “Hold” from Brokerages

Shares of Array Digital Infrastructure Inc. (NYSE:ADGet Free Report) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $54.00.

AD has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Array Digital Infrastructure from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings raised 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 price objective on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. JPMorgan Chase & Co. lowered their price objective on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Wall Street Zen lowered Array Digital Infrastructure from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th.

Read Our Latest Stock Analysis on Array Digital Infrastructure

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Weiss Asset Management LP acquired a new stake in shares of Array Digital Infrastructure in the first quarter worth approximately $206,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Array Digital Infrastructure by 423.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,990 shares of the company’s stock worth $4,614,000 after purchasing an additional 80,872 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Array Digital Infrastructure during the first quarter worth approximately $33,000. Inceptionr LLC purchased a new position in Array Digital Infrastructure during the first quarter worth approximately $295,000. Finally, First Trust Advisors LP boosted its holdings in shares of Array Digital Infrastructure by 15.4% in the 1st quarter. First Trust Advisors LP now owns 111,534 shares of the company’s stock valued at $5,146,000 after purchasing an additional 14,867 shares during the last quarter. Institutional investors and hedge funds own 18.03% of the company’s stock.

Array Digital Infrastructure Stock Performance

Shares of NYSE AD opened at $50.65 on Wednesday. The company has a 50-day simple moving average of $48.91 and a 200-day simple moving average of $49.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $4.38 billion, a PE ratio of 21.02 and a beta of 0.23. Array Digital Infrastructure has a 12 month low of $44.03 and a 12 month high of $79.17.

About Array Digital Infrastructure

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Array Digital Infrastructure (NYSE:AD)

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