Wells Fargo & Company Has Lowered Expectations for Array Digital Infrastructure (NYSE:AD) Stock Price

Array Digital Infrastructure (NYSE:AD) had its price objective decreased by investment analysts at Wells Fargo & Company from $62.00 to $54.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.74% from the company’s previous close.

A number of other brokerages have also issued reports on AD. Royal Bank Of Canada cut their price objective on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, January 21st. Wall Street Zen raised shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Citigroup lifted their target price on Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $57.67.

Array Digital Infrastructure Stock Up 0.5%

NYSE:AD traded up $0.24 on Thursday, reaching $49.66. 32,431 shares of the company’s stock traded hands, compared to its average volume of 306,390. The stock’s 50-day moving average is $51.82. Array Digital Infrastructure has a 12 month low of $44.03 and a 12 month high of $79.17. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 275.81 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.65 and a current ratio of 0.65.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AD. Empowered Funds LLC acquired a new position in Array Digital Infrastructure in the fourth quarter valued at about $54,000. Harbour Investments Inc. acquired a new position in shares of Array Digital Infrastructure in the 4th quarter worth approximately $61,000. Signaturefd LLC purchased a new position in shares of Array Digital Infrastructure during the 4th quarter worth approximately $73,000. Harbor Capital Advisors Inc. acquired a new stake in Array Digital Infrastructure in the 4th quarter valued at approximately $99,000. Finally, Deutsche Bank AG purchased a new stake in Array Digital Infrastructure in the fourth quarter valued at approximately $99,000. 18.03% of the stock is owned by institutional investors and hedge funds.

Array Digital Infrastructure Company Profile

United States Cellular Corporation provides wireless telecommunications services in the United States. The company offers wireless services, including voice, messaging, and data services. It also provides devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and internet of things devices. In addition, the company offers various accessories, such as cases, screen protectors, chargers, and memory cards; and consumer electronics, including audio, home automation, and networking products; as well as offers option to purchase devices and accessories under installment contracts.