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Sarah Patel's Avatar
published in Blogs
Sep 11, 2021

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."

Related Ticker: RUN

RUN's MACD Histogram just turned positive

The Moving Average Convergence Divergence (MACD) for RUN turned positive on May 25, 2023. Looking at past instances where RUN's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 26, 2023. You may want to consider a long position or call options on RUN as a result. In of 89 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where RUN advanced for three days, in of 329 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.

Bearish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

RUN moved below its 50-day moving average on June 05, 2023 date and that indicates a change from an upward trend to a downward trend.

The 10-day moving average for RUN crossed bearishly below the 50-day moving average on May 04, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In 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 .

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 May 31, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (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 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 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 84, placing this stock worse than average.

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 Valuation Rating of (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 (0.616) is normal, around the industry mean (5.926). P/E Ratio (185.185) is within average values for comparable stocks, (75.253). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.132). Dividend Yield (0.000) settles around the average of (0.026) among similar stocks. P/S Ratio (1.689) is also within normal values, averaging (93.083).

Notable companies

The most notable companies in this group are Enphase Energy (NASDAQ:ENPH), First Solar (NASDAQ:FSLR), SolarEdge Technologies (NASDAQ:SEDG), Plug Power (NASDAQ:PLUG), Bloom Energy Corp (NYSE:BE), Canadian Solar (NASDAQ:CSIQ), SunPower Corp (NASDAQ:SPWR), GrafTech International Ltd (NYSE:EAF), FuelCell Energy (NASDAQ:FCEL).

Industry description

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.

Market Cap

The average market capitalization across the Electrical Products Industry is 3.69B. The market cap for tickers in the group ranges from 12.12K to 181.26B. NISSF holds the highest valuation in this group at 181.26B. The lowest valued company is GNAL at 12.12K.

High and low price notable news

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 2%, and the average quarterly price growth was -3%. TYGO experienced the highest price growth at 61%, while LPSIF experienced the biggest fall at -41%.

Volume

The average weekly volume growth across all stocks in the Electrical Products Industry was -18%. For the same stocks of the Industry, the average monthly volume growth was -13% and the average quarterly volume growth was 9%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 61
P/E Growth Rating: 72
Price Growth Rating: 51
SMR Rating: 75
Profit Risk Rating: 83
Seasonality Score: 0 (-100 ... +100)
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Technical Analysis# Of IndicatorsAvg. Odds
   
   
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a company which engaged in the design, development, installation sale, ownership and maintenance of residential solar energy systems

Industry ElectricalProducts

Profile
Fundamentals
Details
Industry
Electrical Products
Address
225 Bush Street
Phone
+1 415 580-6900
Employees
12408
Web
https://www.sunrun.com
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RUN and

Correlation & Price change

A.I.dvisor indicates that over the last year, RUN has been closely correlated with NOVA. These tickers have moved in lockstep 91% of the time. This A.I.-generated data suggests there is a high statistical probability that if RUN jumps, then NOVA could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To RUN
1D Price
Change %
RUN100%
-1.12%
NOVA - RUN
91%
Closely correlated
+0.17%
SPWR - RUN
88%
Closely correlated
+1.65%
PLUG - RUN
77%
Closely correlated
-3.99%
BE - RUN
70%
Closely correlated
-1.66%
SEDG - RUN
68%
Closely correlated
+1.04%
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