Why Shares of Array Technologies Are Soaring Today
Reporting third-quarter earnings yesterday after the market closed, Array Technologies (NASDAQ: ARRY) came up short of analysts' expectations for revenue and earnings per share (EPS) of $203.5 million and negative $0.05, respectively. Instead, Array reported sales of $192.1 million and a loss per share of $0.07. Investors don't seem to care too much, evidently; as of 11:16 a.m. EST today, shares are up 13.5%.
Despite the revenue and earnings misses, there were several bright spots in the earnings report as well as some favorable attention from Wall Street that are leading investors to warm up to this solar-tracking technology stock today.
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Source Fool.com
