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Sunrun (RUN, $44.70) initiated with a buy rating at Needham
On Friday, Sunrun shares rose, after analysts at Needham initiated coverage of the solar energy company with a buy rating and a $75 price target.
Needham analyst Vikram Bagri cited Sunrun’s position as "the leader in the crowded US residential solar industry with about 15% share, almost 2x that of its closest competitor."
"We think the industry, which has expanded rapidly since 2016, can keep growing at a fast pace due to EV adoption, a focus on energy resilience, rising utility rates, and heightened environmental awareness," Bagri noted.
According to Bagri, Sunrun will benefit from the industry trends/outlook due to its experienced management team, strong customer relationships, established channel partners, and quality of service." The analyst also said that Sunrun's scale allows it to recycle capital efficiently.
Bagri mentioned that with Sunrun shares down over 50% from its highs, the shares are trading at a “compelling entry point."
RUN in downward trend: 10-day moving average broke below 50-day moving average on April 19, 2022
The 10-day Moving Average for RUN crossed bearishly below the 50-day moving average on April 19, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 12 of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 80%.
Current price $20.62 crossed the support line at $40.36 and is trading between $40.36 support and $7.01 support lines. Throughout the month of 04/13/22 - 05/16/22, the price experienced a -21% Downtrend. During the week of 05/09/22 - 05/16/22, the stock fell -2%.
The Momentum Indicator moved below the 0 level on May 16, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on RUN as a result. In 70 of 93 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 75%.
RUN moved below its 50-day Moving Average on April 08, 2022 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where RUN declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
The Aroon Indicator for RUN entered a downward trend on May 16, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where RUN's RSI Indicator exited the oversold zone, 20 of 24 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 83%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 42 of 58 cases where RUN's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 72%.
The Moving Average Convergence Divergence (MACD) for RUN just turned positive on May 16, 2022. Looking at past instances where RUN's MACD turned positive, the stock continued to rise in 34 of 44 cases over the following month. The odds of a continued upward trend are 77%.
Following a +8.94% 3-day Advance, the price is estimated to grow further. Considering data from situations where RUN advanced for three days, in 306 of 362 cases, the price rose further within the following month. The odds of a continued upward trend are 85%.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 67%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.22.
The Tickeron Valuation Rating of 99 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.707) is normal, around the industry mean (16.293). P/E Ratio (0.000) is within average values for comparable stocks, (75.720). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (3.077). RUN has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.024). P/S Ratio (2.459) is also within normal values, averaging (21.956).
The Tickeron Seasonality Score of 95 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 86 (best 1 - 100 worst), indicating slightly worse than average price growth. RUN’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 76 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. RUN’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 87, placing this stock better than average.
The Tickeron SMR rating for this company is 69 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 1 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The industry produces a diverse range of electricity-powered equipment, appliances and components, catering to both households and industries. The products include power, distribution and specialty transformers; electric motors, generators and motor-generator sets; switchgear and switchboard apparatus; light bulbs, tubes, fittings and electric signs etc. Consumer income, construction spending, and industrial production are major drivers of demand for this industry’s products. Large companies tend to have economies of scale in production, marketing, and distribution, while smaller companies can potentially carve out their own market through niche or specialty offerings. The US electrical products manufacturing industry includes about 5,700 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $125 billion. (according to a study published in First Research). Emerson Electric Co., Hubbell Incorporated and Eaton Corporation plc are major electrical products makers in the U.S.
The average market capitalization across the Electrical Products Industry is 3B. The market cap for tickers in the group ranges from 68.7K to 153.4B. NISSF holds the highest valuation in this group at 153.4B. The lowest valued company is SNRY at 68.7K.
The average weekly price growth across all stocks in the Electrical Products Industry was -1%. For the same Industry, the average monthly price growth was -9.85%, and the average quarterly price growth was -31.59%. ENKS experienced the highest price growth at 57.14%, while ILIKF experienced the biggest fall at -36.09%.
- 5/3/22 8:19 AM: Sunrun (RUN, $21.76) was a top weekly gainer, with a +5.89% jump
- 4/6/22 8:51 AM: Sunrun (RUN, $31.13) was a top loser this week, declining -7.87%
- 3/17/22 4:20 AM: Sunrun (RUN, $29.29) was a top loser this week, declining -5.64%
The average weekly volume growth across all stocks in the Electrical Products Industry was 3.95%. For the same stocks of the Industry, the average monthly volume growth was 53.85% and the average quarterly volume growth was -43.57%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the TrendWeek Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 33%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.38.
6 stocks in the group of tickers confirmed the negative outlook based on the Momentum indicator with average odds of 63%.
The average market capitalization across the group is 4.8B. The market cap for tickers in the group ranges from 0 to 40.7B. DNNGY holds the highest valuation in this group at 40.7B. The lowest valued company is AWSL at 0.
The average weekly price growth across all stocks in the group was -2.99%. For the same group, the average monthly price growth was -11.51%, and the average quarterly price growth was -7.62%. VVIVF experienced the highest price growth at 14.29%, while NXGB experienced the biggest fall at -53.25%.
- 5/7/22 5:28 AM: EarthRenew (VVIVF, $0.22) was a top loser this week, declining -18.33%
- 5/3/22 8:19 AM: Sunrun (RUN, $21.76) was a top weekly gainer, with a +5.89% jump
- 4/21/22 5:15 AM: China Longyuan Power Group (CLPXF, $2.08) was a top loser this week, declining -11.11%
The average weekly volume growth across all stocks in the group was 270.03%. For the same stocks of the group, the average monthly volume growth was 121.8% and the average quarterly volume growth was 1483.31%
- 4/15/22 4:33 AM: The volume for Clearway Energy stock increased for one day, resulting in a record-breaking daily growth of 259% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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