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BMO Capital analyst Ameet Thakkar initiated coverage on Array Technologies with a Market Perform rating and announced a price target of $16 on the stock last Friday. Array Technologies announced its new Hail Response System on Wednesday. The Hail Response System is a set of software features designed to autonomously protect solar assets from hail damage by leveraging advanced weather prediction algorithms to preemptively stow solar trackers approximately 30 minutes before a predicted hail event.
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Kevin Hostetler, the CEO of Array Technologies Inc (NASDAQ:ARRY), has sold a total of 8,176 shares of the company on March 20, 2024, according to a recent SEC Filing.
The Invesco Solar exchange-traded fund (ETF) under-performed the S&P 500 and Dow Jones Industrial Average (DJIA) stock indexes in January 2024. Jesse Pichel, a managing director at Roth Capital Partners, attributes this to logistics and apparent cashflow problems for some solar companies.