Sunrun Inc (NASDAQ: RUN): A Blank Check?

Sunrun Inc (NASDAQ:RUN) shares, rose in value, with the stock price up by 5.89% to the previous day’s close as strong demand from buyers drove the stock to $12.41.

Actively observing the price movement in the last trading, the stock closed the session at $11.72. The value of beta (5-year monthly) was 2.45. Referring to stock’s 52-week performance, its high was $23.85, and the low was $8.43. On the whole, RUN has fluctuated by 3.76% over the past month.

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With the market capitalization of Sunrun Inc currently standing at about $2.73 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.44, which is expected to increase to $0.48 for fiscal year -$1.2 and then to about -$0.74 by fiscal year 2025. Data indicates that the EPS growth is expected to be 83.80% in 2025, while the next year’s EPS growth is forecast to be 38.30%.

Analysts have estimated the company’s revenue for the quarter at $477.02 million, with a low estimate of $381.6 million and a high estimate of $559.5 million. According to the average forecast, sales growth in current quarter could jump down -19.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.24 billion, representing a decrease of -0.90% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that RUN’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RUN currently trading nearly 8.21% and -5.62% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.69, while the 7-day volatility ratio is showing 8.33% which for the 30-day chart, stands at 7.68%. Furthermore, Sunrun Inc (RUN)’s beta value is 2.47, and its average true range (ATR) is 0.98.

A comparison of Sunrun Inc (RUN) with its peers suggests the former has fared considerably weaker in the market. RUN showed an intraday change of 5.89% in last session, and over the past year, it shrunk by -38.41%%.

Data on historical trading for Sunrun Inc (NASDAQ:RUN) indicates that the trading volumes over the past 10 days have averaged 16.84 million and over the past 3 months, they’ve averaged 15.02 million. According to company’s latest data on outstanding shares, there are 219.39 million shares outstanding.

Nearly 2.84% of Sunrun Inc’s shares belong to company insiders and institutional investors own 101.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 43.75 million shares as on Mar 15, 2024, resulting in a short ratio of 2.75. According to the data, the short interest in Sunrun Inc (RUN) stood at 19.92% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 33.87 million. The stock has fallen by -36.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RUN stock heading into the next quarter.