Is The Biggest Solar IPO In History A Buy?
Array Technologies (NASDAQ: ARRY) hit the public markets on Oct. 15 with a bang. The biggest IPO for a US-based solar company valued Array at well over twice the initial market capitalization of any previous solar company IPO on their first day of trading. Profitable, growing fast, and with fresh cash in its coffers, is Array Technologies stock a buy?
Single-axis trackers maximize energy production. Image source: Getty Images.
Array Technologies makes the mechanical structures used to deploy large solar systems for electrical utilities. But Array doesn't make just any mechanical structures -- it makes single-axis trackers, or smart structures that maximize the amount of light captured (and electricity produced) by following the sun's movement.
Source Fool.com
