Array Digital Infrastructure (NYSE:AD) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Array Digital Infrastructure (NYSE:AD) from a buy rating to a hold rating in a research report sent to investors on Saturday.

AD has been the subject of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, October 8th. Zacks Research upgraded Array Digital Infrastructure to a “hold” rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Array Digital Infrastructure currently has a consensus rating of “Reduce”.

Array Digital Infrastructure Stock Performance

AD stock opened at $48.77 on Friday. Array Digital Infrastructure has a 1 year low of $47.03 and a 1 year high of $79.17. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $52.24. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -162.56 and a beta of 0.20.

Array Digital Infrastructure (NYSE:AD) last issued its quarterly earnings results on Friday, November 1st. The company reported $0.26 earnings per share for the quarter. The company had revenue of $922.00 million during the quarter. Array Digital Infrastructure had a positive return on equity of 1.67% and a negative net margin of 0.68%.

Insiders Place Their Bets

In other news, CEO Douglas W. Chambers sold 93,300 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $75.77, for a total transaction of $7,069,341.00. Following the completion of the sale, the chief executive officer directly owned 17,600 shares in the company, valued at $1,333,552. This represents a 84.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry J. Harczak, Jr. sold 1,960 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $76.20, for a total value of $149,352.00. Following the sale, the director owned 19,374 shares of the company’s stock, valued at approximately $1,476,298.80. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About Array Digital Infrastructure

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.