{
}
SolarEdge (SEDG) reported a positive free cash flow of $25.5 million, a significant turnaround from a $136.7 million shortfall last year, and expects to maintain this trend into 2025. Meanwhile, Sunrun (RUN) saw insider buying as its co-executive chair purchased $1 million in shares, despite the stock's decline to $6.01 from a high of $100.93 in 2021, with analysts upgrading it to a buy rating due to anticipated growth in the U.S. residential solar market. American Express and Asana also experienced substantial insider buying, reflecting confidence in their long-term prospects.
Sunrun Inc. has received a consensus rating of "Moderate Buy" from analysts, with two sell ratings, seven holds, and thirteen buys, alongside a target price of $17.20. The stock opened at $6.51, showing a market cap of $1.47 billion and a debt-to-equity ratio of 1.92. Recent insider transactions include a significant purchase by Director Edward Harris Fenster, who acquired 150,000 shares at $6.80 each.
JPMorgan Chase & Co. has hired Jens Becker, a managing director from UBS, to enhance its mergers and acquisitions team, focusing on energy, power, renewables, and mining. Becker, who will join in June after gardening leave, has a notable background in significant transactions at Credit Suisse. Additionally, Akshay Dhiman and Charles Hop de Chillaz will also join JPMorgan as managing directors, specializing in power and renewables.
UBS has lowered its price target on Sunrun Inc. to $15 from $17 while maintaining a Buy rating. Sunrun specializes in residential solar energy systems, battery storage, and energy services, catering primarily to homeowners in the U.S. The company also offers electric vehicle chargers and home energy management services.
Sunrun (NASDAQ:RUN) saw a 7.5% decline in Friday's trading, despite UBS upgrading the solar installer's shares to Buy from Neutral, with a price target increase from $14 to $17. The upgrade comes as Sunrun's market share in California nearly doubled over the past year, indicating positive fundamental trends.
Blue Trust Inc. increased its stake in Sunrun by 385.5%, owning 1,845 shares valued at $33,000 after acquiring 1,465 shares. Institutional investors hold 91.69% of Sunrun, which has received mixed ratings from analysts, with UBS upgrading it to "buy" and a price target of $17.00, indicating a potential upside of 58.14%.
UBS has lowered its price target for Sunrun from $18 to $14, indicating a 21.21% upside potential at the current market price, while maintaining a neutral outlook due to concerns over growth. Other firms like Morgan Stanley and Wells Fargo have also cut their targets, but Goldman Sachs remains bullish with a $20 target. Sunrun's stock currently holds a "Hold" rating, with predictions ranging from $7.78 to $27, amidst a competitive solar energy sector.
The election victory for Donald Trump is unlikely to hinder the growth of rooftop solar and battery systems in the U.S., according to Sunrun CEO Mary Powell. She emphasized that a complete repeal of the Inflation Reduction Act, which includes crucial tax credits for solar, is "highly unlikely."
The 2024 US election could significantly influence the stock market, with distinct impacts depending on whether Donald Trump or Kamala Harris wins. A Trump victory may boost energy, defense, and financial sectors, while potentially mixed effects could arise in technology and automotive industries. Conversely, a Harris win is likely to favor clean energy, healthcare reforms, and infrastructure spending, while introducing uncertainty in AI-related stocks.
Sunrun Inc. is exploring partnerships with data center developers to provide distributed solar power generation, according to CEO Mary Powell. The company is considering innovative models, including collaborations with electric utilities for custom solar systems or utilizing existing installations in nearby communities, though details remain under wraps due to non-disclosure agreements.
Sunrun Inc.
Companies
| Symbol | RUN |
| Name | Sunrun Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Technology Hardware & Equipment |
| Industry | Technology Hardware, Storage & Peripherals |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | San Francisco |
| Zipcode | 94104 |
| Website | http://www.sunrun.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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