NEW YORK, May 27, 2026, 17:07 EDT
- Array Technologies ended the day 7.24% higher at $9.03 as solar-linked stocks drew buyers.
- The company did not issue a new operating release Wednesday. Investors were still going over its May 6 order-book update.
- Shoals, Nextpower, and First Solar traded higher. The Invesco Solar ETF moved up too.
Array Technologies shares rose on Wednesday as solar equipment stocks beat the broader market. The solar-tracker maker ended the day at $9.03, gaining 7.24%. The stock traded between $8.31 and $9.29 during the session.
The timing was key. Wall Street’s main indexes ended barely higher—S&P 500 up 0.02%, Nasdaq up 0.07%—with both closing at records. That left the move in Array looking like a sector play rather than a simple move with the broader market.
Array builds solar trackers, the equipment that moves panels to follow the sun and boost output at big solar farms. That ties the company tightly to utility-scale solar project spending, where orders often sway investors ahead of actual sales.
Buying wasn’t limited to Array. The Invesco Solar ETF climbed roughly 2.2%. Shares of Shoals Technologies jumped close to 12%. Nextpower was up by about 3.4%, and First Solar tacked on around 1.4%, according to the latest data.
Array didn’t issue an operating update Wednesday. Its investor-relations news page had the last release as a May 11 conference note. On the SEC filings page, the most recent filings were insider ownership reports from May 21, following a May 20 8-K.
Focus shifted back to Array’s first-quarter update from May 6. The company posted a record $2.4 billion in executed contracts and awarded orders. That’s a 2x book-to-bill, with orders running about double the revenue booked in the quarter. Array kept its 2026 revenue outlook at $1.4 billion to $1.5 billion.
Array’s report listed first-quarter revenue at $223.4 million and adjusted EBITDA at $28.8 million, with adjusted diluted earnings of 6 cents a share. Adjusted EBITDA strips out interest, tax, depreciation and amortization, plus some other items. The company had a net loss to common shareholders of $13.5 million.
Chief Executive Kevin G. Hostetler said Array is still focused on “high-quality domestic opportunities” as it looks to grow abroad. He linked order growth to new products like OmniTrack and the DuraTrack D2S tracker, which target overseas markets. GlobeNewswire
Views on the rebound are mixed. UBS analyst Jon Windham bumped his price target on Array up to $11 from $10, sticking with a Buy after the latest results. He said there was “strong order book growth” and flagged the pace of U.S. utility-scale solar. TipRanks
Morgan Stanley bumped up its target on Array to $8 from $7, sticking with an Equal Weight call. That’s key since Array closed Wednesday above that target, meaning there’s not much headroom for a straightforward rerating from their side.
Mixed signals on the competitor side. Nextpower, still using the NXT ticker and known as Nextracker until its planned 2025 rebrand, stays the bigger listed tracker name. Shoals sells electrical gear for solar installs and First Solar is a top U.S. solar manufacturer. All three rose, putting Array’s gain in the context of a broader move across solar stocks, not just an isolated jump.
The risk is that Array’s order book might not hit revenue targets on time. Array points to tariffs, shifts in clean-energy incentives, project hold-ups, customer funding issues, and part shortages, as well as the risk the backlog doesn’t convert as planned. Any of those could put a stop to the rally if developers cut spending or margins get squeezed.
Array ended with a market cap near $1.39 billion, staying under its 52-week highs. The stock’s move showed traders were willing to look at solar-tracker names again as others in the group moved. Momentum took the focus for now.
