Why Array Technologies Stock Jumped Thursday
Shares of Array Technologies (NASDAQ: ARRY), a manufacturer of ground-mounted systems for large-scale solar energy projects, are making a bit of a recovery today after a 46% crash on Wednesday. As of 12:40 p.m. EDT, its shares had rebounded 6.4% from Wednesday's closing price.
Yesterday's drop came after the company reported first-quarter 2021 earnings. Though results weren't far from expectations, the company highlighted growing freight and steel costs when saying it needed to review open contracts amid rising input costs and CFO Nipul Patel said in a statement that the company was "not able to affirm our previously provided guidance for the full year."
Source Fool.com
