Array Technologies Soars 8.9% on Earnings Surge and Analyst Upgrades: Is This the Start of a New Bull Run?

Summary
• Array Technologies (ARRY) hits 52-week high of $10.38 amid 68.2% annual stock surge
• Q3 earnings beat by 57.89% and revenue crush estimates by 28.62%, signaling operational strength
• UBS and Seaport upgrade price targets to $15 and $12, respectively, citing solar sector tailwinds

Array Technologies has ignited a 8.9% intraday rally, trading at $10.335 with $3.76 annual range. The solar infrastructure provider’s Q3 results—$0.30 EPS (57.89% beat) and $393M revenue (28.62% beat)—have triggered a wave of analyst optimism. With UBS and Seaport raising price targets to $15 and $12, the stock’s 52W high alignment and 58.63% projected earnings growth suggest a pivotal inflection point in the renewable energy sector.

Earnings Surge and Analyst Optimism Drive Array Technologies' Rally
ARRY’s explosive move stems from a trifecta of catalysts: a 76.5% YoY EPS acceleration, 70% revenue growth, and a 14.7% average revenue beat over four quarters. UBS’s $15 price target (up from $9) and Seaport’s $12 upgrade (from Neutral) reflect confidence in the company’s $500M net bookings and $1.54B market cap expansion. The stock’s 8.58% intraday gain—surpassing its 52W high—aligns with the Minervini Trend Template’s Stage 2 criteria, as the price trades above 50/150/200-day SMAs and within 9% of its peak.

Solar Sector Gains Momentum as Array Technologies Leads Charge
The solar power sector is surging, with First Solar (FSLR) up 6.06% today, reflecting broader industry optimism. Array Technologies’ 8.9% rally outpaces FSLR’s move, driven by its unique ground-mounting system niche and 58.63% projected earnings growth. While FSLR focuses on panel manufacturing, ARRY’s infrastructure play benefits from utility-scale solar demand, positioning it as a structural growth story amid global decarbonization efforts.

Options Playbook: Leveraging ARRY’s Bullish Momentum with Gamma-Driven Contracts
• 200-day SMA: 7.195 (well below current price)
• RSI: 74.16 (overbought)
• MACD: 0.2495 (bullish divergence)
• Bollinger Bands: Price at 9.473 (upper band), 8.0985 (middle), 6.723 (lower)
• Gamma: 0.1836 (high sensitivity to price moves)
• Theta: -0.0239 (moderate time decay)

ARRY’s technicals signal a continuation of its 52W high breakout. Key support levels at $8.33 and $7.55 (per ChartMill) could trigger a retest, but the 91.95 CRS score and 24.1x P/E suggest institutional buying. For leveraged exposure, the XLE ETF (energy sector) or SPY (broader market) could hedge against sector rotation risks.

Top Options Contracts:
• ARRY20260116C10 (Call, $10 strike, Jan 16 2026):
- IV: 76.28% (high volatility)
- LVR: 10.30% (moderate leverage)
- Delta: 0.604 (high directional sensitivity)
- Theta: -0.0239 (moderate decay)
- Gamma: 0.1836 (strong price responsiveness)
- Turnover: $117,730 (liquid)
- Payoff at 5% upside ($10.85): $0.85/share. This contract offers a 122.22% price gain, ideal for capitalizing on a sustained breakout above $10.33.

• ARRY20260220C10 (Call, $10 strike, Feb 20 2026):
- IV: 70.13% (reasonable volatility)
- LVR: 7.63% (lower leverage)
- Delta: 0.607 (high directional sensitivity)
- Theta: -0.0127 (slower decay)
- Gamma: 0.1301 (moderate responsiveness)
- Turnover: $16,386 (liquid)
- Payoff at 5% upside ($10.85): $0.85/share. This contract balances time decay with gamma, offering a safer play for a mid-term rally.

Aggressive bulls should consider ARRY20260116C10 into a break above $10.465 (intraday high). If $8.33 support holds, ARRY20260220C10 provides a longer runway for a rebound.

Backtest Array Technologies Stock Performance
The backtest of ARRY's performance after a 9% intraday surge from 2022 to the present shows mixed results. While the ETF experienced a maximum return of 6.52% on December 59, 2025, the overall 3-day win rate is 43.89%, the 10-day win rate is 45.85%, and the 30-day win rate is 49.78%, indicating a higher probability of positive returns in the short term. However, the average returns over these periods are negative, with a -0.13% return over 3 days, a 0.59% return over 10 days, and a 1.69% return over 30 days. This suggests that while ARRY has a good chance of bouncing back after a significant drop, the overall trend has been slightly negative.

Array Technologies at Inflection Point: Ride the Solar Wave or Watch for Reversal?
ARRY’s 8.9% surge reflects a confluence of earnings momentum, analyst upgrades, and structural solar demand. However, the 3/10 Setup Quality rating warns of near-term volatility. Investors should monitor the $8.33 support level and FSLR’s 6.06% rally as sector benchmarks. For those with a bullish bias, the ARRY20260116C10 call offers a high-gamma, high-liquidity play on a sustained breakout. If the stock consolidates below $9.47 (Bollinger upper band), a mean reversion trade into $7.55 support could emerge. The solar sector’s 6.06% move in FSLR underscores the importance of staying attuned to both technical and sector dynamics.