Short Interest in Array Digital Infrastructure Inc. (NYSE:AD) Declines By 17.5%

Array Digital Infrastructure Inc. (NYSE:AD) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,206,194 shares, a drop of 17.5% from the January 15th total of 1,462,179 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 455,881 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily trading volume, of 455,881 shares, the days-to-cover ratio is currently 2.6 days. Approximately 1.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AD. Wells Fargo & Company decreased their price objective on Array Digital Infrastructure from $62.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Citigroup lifted their price objective on Array Digital Infrastructure from $37.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d)” rating on shares of Array Digital Infrastructure in a report on Wednesday, January 21st. Royal Bank Of Canada reduced their price objective on shares of Array Digital Infrastructure from $62.00 to $56.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Finally, Wall Street Zen upgraded shares of Array Digital Infrastructure from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Array Digital Infrastructure has an average rating of “Hold” and an average target price of $57.67.

Institutional Investors Weigh In On Array Digital Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP purchased a new stake in shares of Array Digital Infrastructure during the 4th quarter worth approximately $120,237,000. Jericho Capital Asset Management L.P. purchased a new stake in Array Digital Infrastructure in the fourth quarter worth $97,366,000. Vanguard Group Inc. bought a new stake in shares of Array Digital Infrastructure in the fourth quarter valued at $76,634,000. Gamco Investors INC. ET AL purchased a new position in shares of Array Digital Infrastructure during the 4th quarter valued at $51,720,000. Finally, Loomis Sayles & Co. L P bought a new position in shares of Array Digital Infrastructure during the 4th quarter worth $40,842,000. 18.03% of the stock is owned by hedge funds and other institutional investors.

Array Digital Infrastructure Trading Down 3.2%

NYSE AD traded down $1.64 during trading hours on Wednesday, hitting $49.60. The company’s stock had a trading volume of 150,138 shares, compared to its average volume of 299,324. The stock has a market capitalization of $4.22 billion, a P/E ratio of 274.67 and a beta of 0.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.65 and a quick ratio of 0.65. Array Digital Infrastructure has a 52 week low of $44.03 and a 52 week high of $79.17. The company’s 50-day moving average price is $51.92.

Array Digital Infrastructure Dividend Announcement

The business also recently announced a special dividend, which was paid on Monday, February 2nd. Stockholders of record on Friday, January 23rd were issued a $10.25 dividend. The ex-dividend date was Friday, January 23rd.

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.