An interesting stock that came up in some of our conversations today is Sunrun Inc. (NASDAQ:RUN). At current price of $15.55, the shares have already added 0.62 points (4.15% higher) from its previous close of $14.93. Should you buy or avoid them? The stock sets an active trading volume day with a reported 1042574 contracts so far this session. RUN shares had a relatively better volume day versus average trading capacity of 1.97 million shares, but with a 0.11 billion float and a 0.95% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RUN stock indicates that the average analyst price target is $22.4 per share. This means the stock has a potential increase of 44.05% from where the RUN share price has been trading recently which is between $14.62 and $15.1414. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $17.5.
The shorts are climbing into Sunrun Inc. (RUN) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in RUN shares. While short interest still represents only 11.68% of RUN’s float, the number of shares shorted have risen by 413442. The number of shares shorted advanced to 12939671 shares, up from 12526229 shares during the preceding fortnight. With average daily trading volumes at 2985829 shares, days to cover decreased to about 7.128415 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Chase Coleman’s Top 5 Holdings” and dated September 04, 2019.
During the recent trading session for Sunrun Inc. (NASDAQ:RUN), the company witnessed their stock rise $0.12 over a week and tumble down $-0.69 from the price 20 days ago. When compared to their established 52-week high of $21.42, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/17/19. The recent low of $8.81 stood for a -27.4% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.75 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Sunrun Inc., the two-week RSI stands at 45.4. This figure suggests that RUN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current RUN readings is similarly very revealing as it has a stochastic reading of 38.37% at this stage. This figure means that RUN share price today is being neutral.
Technical chart claims that Sunrun Inc. (RUN) would settle between $15.17/share to $15.42/share level. However, if the stock price goes below the $14.65 mark, then the market for Sunrun Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $14.38 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.03. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at KeyBanc Capital Markets, assumed coverage of RUN assigning Overweight rating, according to their opinion released on August 20. Goldman analysts bumped their rating on Sunrun Inc. (NASDAQ:RUN) stock from Neutral to Buy in a separate flash note issued to investors on June 18. Analysts at Barclays, made their first call for the equity with a Overweight recommendation, according to a research note that dated back to May 16.
RUN equity has an average rating of 1.33, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Sunrun Inc. (NASDAQ:RUN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, RUN stock price is currently trading at 23.44X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is 16.41. Sunrun Inc. current P/B ratio of 1.42 means it is trading at a discount against its industry’s 1.44.
Sunrun Inc. (RUN)’s current-quarter revenues are projected to climb by nearly 1.21% to hit $207450, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 6.09% from $759980 to a noteworthy $806270. At the other end of the current quarter income statement, Sunrun Inc. is expected to see its adjusted earnings surge by roughly 1200% to hit $0.22 per share. For the fiscal year, RUN’s earnings are projected to climb by roughly 117.39% to hit $0.5 per share.