In the latest trading session, 1.79 million Sunrun Inc. (NASDAQ:RUN) shares changed hands as the company’s beta touched 2.32. With the company’s most recent per share price at $14.40 changed hands at -$0.66 or -4.35% at last look, the market valuation stands at $3.22B. RUN’s current price is a discount, trading about -163.33% off its 52-week high of $37.92. The share price had its 52-week low at $13.30, which suggests the last value was 7.64% up since then. When we look at Sunrun Inc.’s average trading volume, we note the 10-day average is 7.44 million shares, with the 3-month average coming to 9.13 million.
Analysts gave the Sunrun Inc. (RUN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 1 out of 29 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 5 recommended RUN as a Hold, 21 felt it is a Buy and 0 rated the stock as Underweight. Sunrun Inc.’s EPS for the current quarter is expected to be -$0.09.
Sunrun Inc. (NASDAQ:RUN) trade information
Instantly RUN was in red as seen in intraday trades today. With action 4.99%, the performance over the past five days has been green. The drop to weekly highs of 15.74 on Friday, 09/15/23 subtracted -4.35% to the stock’s daily price. The company’s shares are showing year-to-date downside of -40.03%, with the 5-day performance at 4.99% in the green. However, in the 30-day time frame, Sunrun Inc. (NASDAQ:RUN) is -1.81% down. Looking at the short shares, we see there were 38.81 million shares sold at short interest cover period of 3.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is $33.25, meaning bulls need an upside of 56.69% from its recent market value. According to analyst projections, RUN’s forecast low is $12.74 with $60.00 as the target high. To hit the forecast high, the stock’s price needs a -316.67% plunge from its current level, while the stock would need to tank 11.53% for it to hit the projected low.
Sunrun Inc. (RUN) estimates and forecasts
Data shows that the Sunrun Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.83% over the past 6 months, a -210.00% in annual growth rate that is considerably lower than the industry average of 35.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Sunrun Inc. will fall -109.40%, while the growth in revenue is estimated to hit -127.60% for the next quarter. Year-over-year growth is forecast to reach 1.20% up from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of $580.96 million. 18 analysts are of the opinion that Sunrun Inc.’s revenue for the quarter ending Dec 2023 will be $600.32 million. The company’s revenue for the corresponding quarters a year ago was $631.91 million and $609.15 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -8.10%. The estimates for the next quarter sales put growth at -1.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -11.50%. The 2023 estimates are for Sunrun Inc. earnings to increase by 304.30%, but the outlook for the next 5-year period is at -8.00% per year.
Sunrun Inc. is expected to release its next quarterly earnings report in October.
Sunrun Inc. (NASDAQ:RUN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.67% of Sunrun Inc. shares while 100.87% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.63%. There are 100.87% institutions holding the Sunrun Inc. stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.08% of the shares, roughly 32.74 million RUN shares worth $584.82 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.88% or 19.28 million shares worth $344.32 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 6.95 million shares estimated at $108.61 million under it, the former controlled 3.20% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.93% of the shares, roughly 6.36 million shares worth around $113.53 million.