How to Buy Array Technologies Stock [2024]

Summary: Investing in a leading global solar energy business such as Array Technologies seems to be a lucrative opportunity for many proponents of eco-awareness and green-thumb investors. This guide will explain how to buy Array Technologies stock using a regulated online investing service like eToro.

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About Array Technologies

Array Technologies, Inc. (Nasdaq: ARRY) is a major renewable energy company headquartered in the US that focuses on designing, producing, and installing solar tracking systems worldwide.

Founded in 1989, Array Technologies has emerged as a global force in the market, primarily owing to DuraTrack, their flagship solar tracker that boasts durability, adaptability, and high power density in numerous utility-scale photovoltaic projects.

How to Buy Array Technologies Stock: Array Technologies homepage. — Array Technologies homepage. Source: arraytechinc.com

Array Technologies relies on innovative tracking solutions that enable devices to follow the sun’s way throughout the daylight hours. This technology maximizes the energy output of solar collectors, boosting the overall efficiency of solar power plants.

Showing a dedicated commitment to sustainability and green energy, Array Technologies helps advance the embracing of solar power in the global society, contributing to a more environmentally friendly future.

How to buy Array Technologies stock: step-by-step

Since its initial public offering (IPO) on October 14, 2020, when Array Technologies went public for the first time, investors can freely buy ARRY stock via a regulated exchange broker. The process has five simple steps that we will explain below:

Step 1: Choose a broker

To invest in Array Technologies, you must first register an account with a brokerage, allowing you to buy and sell shares in any company listed on the stock market. When it comes down to making a choice, consider the following aspects:

Range of offerings: While you are looking to buy Array Technologies stocks now, some other financial instruments might attract your attention later. Check for assets like commodities, various stocks, cryptocurrencies, and forex, and even derivative assets like CFDs, options, and futures. Additionally, check if the platform offers robust technical analysis and charting tools, essential for informed trading decisions;
Cost: Most brokerages provide commission-free trading and no-minimum accounts for stocks and ETFs. However, it is essential not to neglect other aspects just for the candidate with the lowest expenses;
Regulation and security: Affirm that the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations cover your selected brokerage. Ensure the availability of advanced security measures like two-factor authentication (2FA);
Fractional stock trading: Platforms that enable fractional stock trading allow you to buy stocks by the dollar amount, which suits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.

To securely buy Array Technologies stock (ARRY), we recommend:

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Highly Rated Stock Trading & Investing Platform

Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
Copy top-performing traders in real time, automatically.
eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

If you find Array Technologies intriguing and are seeking similar investment opportunities, our various guides can assist you in understanding how to invest in other companies within this sector. These guides include:

Step 2: Open and fund your account

Once you choose the investing service, you open an account on its platform and go through the verification process. When you complete this, continue to fund the newly created account. You will use the funds to buy Array Technologies stock in the next part of the process.

Investors commonly have a bank transfer, debit or credit card, and a third-party transaction service such as PayPal (PYPL) as payment options.

Step 3: Decide how much you want to invest

You must designate the precise amount of Array Technologies stock you wish to buy before investing. To help you come up with an answer, ask yourself the following:

Will my quality of life significantly worsen if I lose this amount of cash?
Have I counted my daily expenses, put up an emergency fund to cover a few months, and cleared all high-interest debt?

Additionally, your answer will depend on your personal investing style, risk-wariness, and investment objectives.

Remember

Never invest what you cannot afford to lose.

Step 4: Place your order and buy Array Technologies stock

After you decide how much Array Technologies shares you want to obtain, you need to place an order. You can perform this in four steps:

Step 1: Go to your online brokerage account and check for the company’s ticker stock symbol ARRY;
Step 2: Put in the amount of stock you want to buy in the field;
Step 3: Choose the order type (market order or limit order) and place it;
Step 4: Confirm the trade.

Step 5: Monitor and manage your investment

The investing process lasts for as long as you hold the Array Technologies stock in your portfolio. After all, you must observe market tendencies closely and monitor your investment accordingly.

To do that, you have to regularly re-check the company’s fiscal performance, the current state of the solar power industry, and the trends in the global economy regarding renewable energy sources. Having up-to-date information makes your decisions more accurate and your portfolio safer.

ARRY stock price today

Pros and cons of buying Array Technologies stock

Pros

Growing industry: As more of the world embraces renewable energy and solar power, the industry is expected to grow considerably. This is likely to boost companies like Array Technologies;
Strong market presence: The company has established a solid market presence worldwide, with a growing number of customers due to global environmental trends, allowing Array Technologies to capitalize on this industry influx;
Eco-friendliness: By investing in Array Technologies, you also support renewable energy and carbon footprint reduction initiatives, which can be the selling point for socially responsible investors who follow impact investing guidelines.

Cons

Dependence on suppliers: The solar power industry depends on a complex supply chain for primary resources and components. Any disruption in this chain can disrupt their ability to deliver products and services;
Technological advancement: Array Technologies must always keep pace with innovative technologies to preserve its current favorable position in the market.

Common mistakes to avoid when buying Array Technologies stock

Make sure to avoid the most common investing mistakes:

Lack of research: Do a detailed analysis of the current market tendencies and Array Technologies stock before buying;
Lack of strategy: Define your financial objectives before you invest anything;
Staking everything on one asset: Even if you have the best investing opinion of Array Technologies, only put some of your eggs in one basket. Always diversify your portfolio;
Falling prey to scams: Avoid suspicious platforms and too-good-to-be-true deals. If your sixth sense says something is not right, follow it through and double-check everything.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about how to buy Array Technologies stock