Sunrun Inc. (NASDAQ: RUN) stock fell -0.78% on Wednesday to $16.51 against a previous-day closing price of $16.64. With 7.65 million shares changed hands, the volume of the stock remained lighter than its average volume of 10.52 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $16.72 whereas the lowest price it dropped to was $15.83. The 52-week range on RUN shows that it touched its highest point at $39.13 and its lowest point at $14.55 during that stretch. It currently has a 1-year price target of $36.57. Beta for the stock currently stands at 2.35.
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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 up-trending over the past week, with a rise of 1.73%, but this was down by -22.60% over a month. Three-month performance dropped to -29.92% while six-month performance fell -45.80%. The stock lost -29.17% in the past year, while it has lost -31.27% so far this year. A look at the trailing 12-month EPS for RUN yields 0.06 with Next year EPS estimates of -0.32. For the next quarter, that number is -0.23. This implies an EPS growth rate of 304.30% for this year and 75.80% for next year. EPS is expected to decline by -8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -11.50%.
Float and Shares Shorts:
At present, 214.55 million RUN shares are outstanding with a float of 204.65 million shares on hand for trading. On Apr 27, 2023, short shares totaled 34.69 million, which was 16.09% higher than short shares on Mar 30, 2023. 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.
Through their ownership of 95.95% of RUN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.78% of RUN, in contrast to 42.04% held by mutual funds. Shares owned by individuals account for 27.70%. As the largest shareholder in RUN with 10.11% of the stake, BlackRock Fund Advisors holds 21,682,722 shares worth 21,682,722. A second-largest stockholder of RUN, The Vanguard Group, Inc., holds 19,103,014 shares, controlling over 8.91% of the firm’s shares. Orbis Investment Management Ltd. is the third largest shareholder in RUN, holding 12,976,948 shares or 6.05% stake. With a 3.79% stake in RUN, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 8,122,721 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.10% of RUN stock, is the second-largest Mutual Fund holder. It holds 6,649,960 shares valued at 139.92 million. Vanguard Total Stock Market ETF holds 2.96% of the stake in RUN, owning 6,340,303 shares worth 133.4 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, RUN reported revenue of $584.58M and operating income of -$155.31M. The EBITDA in the recently reported quarter was $3.69M and diluted EPS was -$0.06.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RUN since 0 analysts follow the stock currently. 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 $65.00 and a low target of $12.74, the average target price over the next 12 months is $35.95. Based on these targets, RUN could surge 293.7% to reach the target high and fall by -22.83% to reach the target low. Reaching the average price target will result in a growth of 117.75% 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.
Summary of Insider Activity:
Insiders traded RUN stock several times over the past three months with 12 Buys and 25 Sells. In these transactions, 826,134 shares were bought while 224,908 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 105 over the past year. The total number of shares bought during that period was 1,764,619 while 1,405,681 shares were sold.