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Why Array Technologies Stock Jumped 21.7% This Week

TheMotleyFool 
0 0 15.12.23
Why Array Technologies Stock Jumped 21.7% This WeekPhoto, wide shot, wide-angle lens, Construction equipment, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/96af5505-e3c8-4496-bbb7-e4a5eba91e77.png
 

Solar energy stocks had a great week, and Array Technologies (NASDAQ: ARRY) was no different. The company's shares jumped 21.7% between Friday's close and Thursday's close, according to data provided by S&P Global Market Intelligence, as investors speculated that demand for solar energy projects will increase in 2024.

Like most of the recovery in renewable energy this week, interest rates were the driver of the bounce.

Rising interest rates have been a headwind for the entire industry in 2023, and we're starting to see the effects on the financial results. Not only was Array Technologies' revenue down last quarter, but management also expects revenue to fall to between $290 million to $340 million in the fourth quarter of 2023.

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Source Fool.com

Solar A/S B Stock

€29.20
-0.850%
The price for the Solar A/S B stock decreased slightly today. Compared to yesterday there is a change of -€0.250 (-0.850%).

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