Array Technologies Inc. (ARRY) stock plummeted 30.45% during intraday trading on Thursday. The sharp decline followed the solar tracker manufacturer's disappointing financial update and forward guidance.

The company reported a significant quarterly net loss, which included substantial one-time charges such as a $29.5 million inventory valuation charge and a $102.6 million non-cash goodwill impairment charge. More critically, Array Technologies issued fiscal 2026 adjusted earnings guidance of 65 to 75 cents per share, which fell below analyst estimates of 78 cents.

This weak outlook prompted immediate negative reactions from Wall Street. Multiple brokerages, including Deutsche Bank, JPMorgan, and RBC, cut their price targets on the stock. Deutsche Bank downgraded Array Technologies from "buy" to "hold," citing investor disappointment with the 2026 outlook and noting that the company's adjusted EBITDA forecast was 14% below Street expectations. The combination of disappointing financial results and lowered analyst sentiment drove the stock's severe decline.