Prepare Yourself for Liftoff: Sunrun Inc. (RUN)

Sunrun Inc. (NASDAQ: RUN) stock jumped 3.35% on Monday to $26.83 against a previous-day closing price of $25.96. With 5.82 million shares changed hands, the volume of the stock remained lighter than its average volume of 7.19 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $27.44 whereas the lowest price it dropped to was $25.70. The 52-week range on RUN shows that it touched its highest point at $39.13 and its lowest point at $16.80 during that stretch. It currently has a 1-year price target of $45.26. Beta for the stock currently stands at 2.28.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RUN was down-trending over the past week, with a drop of -3.49%, but this was up by 2.40% over a month. Three-month performance surged to 36.47% while six-month performance rose 12.54%. The stock lost -6.68% in the past year, while it has gained 11.70% so far this year. A look at the trailing 12-month EPS for RUN yields 0.29 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.05. This implies an EPS growth rate of 68.80% for this year and -80.14% for next year.

Float and Shares Shorts:

At present, 212.70 million RUN shares are outstanding with a float of 204.65 million shares on hand for trading. On Oct 13, 2022, short shares totaled 29.75 million, which was 14.03% higher than short shares on Sep 14, 2022. In addition to Mr. Edward Harris Fenster as the firm’s Co-Founder & Exec. Co-Chair of the Board, Ms. Lynn Michelle Jurich serves as its Co-Founder, Exec. Co-Chair of the Board.

Institutional Ownership:

Through their ownership of 94.30% of RUN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.20% of RUN, in contrast to 37.38% held by mutual funds. Shares owned by individuals account for 27.59%. As the largest shareholder in RUN with 9.84% of the stake, BlackRock Fund Advisors holds 20,958,564 shares worth 20,958,564. A second-largest stockholder of RUN, The Vanguard Group, Inc., holds 18,274,088 shares, controlling over 8.57% of the firm’s shares. Orbis Investment Management Ltd. is the third largest shareholder in RUN, holding 12,032,777 shares or 5.65% stake. With a 3.20% stake in RUN, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 6,809,889 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.09% of RUN stock, is the second-largest Mutual Fund holder. It holds 6,574,668 shares valued at 157.92 million. Vanguard Total Stock Market Index holds 2.88% of the stake in RUN, owning 6,141,032 shares worth 147.51 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RUN since 26 analysts follow the stock currently. There are 18 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RUN analysts setting a high price target of $70.00 and a low target of $30.00, the average target price over the next 12 months is $46.43. Based on these targets, RUN could surge 160.9% to reach the target high and rise by 11.82% to reach the target low. Reaching the average price target will result in a growth of 73.05% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RUN will report FY 2022 earnings on 02/16/2024. Analysts have provided yearly estimates in a range of $1.40 being high and $0.17 being low. For RUN, this leads to a yearly average estimate of $0.49. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Sunrun Inc. surprised analysts by $1.02 when it reported $0.96 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was $0.06. Based on analyst estimates, the high estimate for the next quarter is $0.87 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.01.

Summary of Insider Activity:

Insiders traded RUN stock several times over the past three months with 12 Buys and 26 Sells. In these transactions, 198,499 shares were bought while 468,664 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 103 over the past year. The total number of shares bought during that period was 1,286,270 while 1,202,886 shares were sold.

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