Array Digital Infrastructure (NYSE:AD) Sets New 52-Week Low – Should You Sell?

Array Digital Infrastructure Inc. (NYSE:AD) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $35.12 and last traded at $35.2250, with a volume of 60811 shares traded. The stock had previously closed at $36.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on AD shares. JPMorgan Chase & Co. reduced their price target on Array Digital Infrastructure from $60.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 26th. Royal Bank Of Canada lowered Array Digital Infrastructure from an “outperform” rating to a “sector perform” rating and set a $52.00 target price for the company. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Array Digital Infrastructure in a research note on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Array Digital Infrastructure from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.00.

Array Digital Infrastructure Stock Down 1.8%

The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 14.83 and a beta of 0.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $47.34 and a two-hundred day moving average of $49.18.

Array Digital Infrastructure Dividend Announcement

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

Institutional Trading of Array Digital Infrastructure

Institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. acquired a new position in Array Digital Infrastructure during the fourth quarter valued at approximately $910,000. Aberdeen Group plc acquired a new stake in shares of Array Digital Infrastructure in the fourth quarter worth $15,528,000. Harbor Capital Advisors Inc. purchased a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $99,000. Signaturefd LLC purchased a new position in shares of Array Digital Infrastructure in the 4th quarter valued at $73,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Array Digital Infrastructure during the 4th quarter valued at $5,187,000. Institutional investors and hedge funds own 18.03% 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. 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.