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."
The RSI Oscillator for RUN moved out of oversold territory on March 18, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 32 similar instances when the indicator left oversold territory. In of the 32 cases the stock moved higher. This puts the odds of a move higher at .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 56 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 .
The Momentum Indicator moved above the 0 level on March 26, 2024. You may want to consider a long position or call options on RUN as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for RUN just turned positive on March 20, 2024. Looking at past instances where RUN's MACD turned positive, the stock continued to rise in of 42 cases over the following month. The odds of a continued upward trend are .
Following a +2 3-day Advance, the price is estimated to grow further. Considering data from situations where RUN advanced for three days, in of 310 cases, the price rose further within the following month. The odds of a continued upward trend are .
RUN may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The 10-day moving average for RUN crossed bearishly below the 50-day moving average on February 22, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 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 .
The 50-day moving average for RUN moved below the 200-day moving average on March 07, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an 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 of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for RUN entered a downward trend on March 25, 2024. 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 Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady 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 Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly 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 (0.550) is normal, around the industry mean (5.816). P/E Ratio (22.573) is within average values for comparable stocks, (43.466). Projected Growth (PEG Ratio) (3.092) is also within normal values, averaging (2.204). RUN has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.025). P/S Ratio (1.256) is also within normal values, averaging (87.932).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average 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 Tickeron SMR rating for this company is (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 Profit vs. Risk Rating rating for this company is (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 81, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a company which engaged in the design, development, installation sale, ownership and maintenance of residential solar energy systems
Industry ElectricalProducts