With the current price of $48.14,the stock of Sunrun Inc. (NASDAQ:RUN) concluded the trading session seeing its price rise by 1.83 points or at a gain of 3.95% compared to its previous day’s closing price of $46.31. About 5.098 million shares of the stock changed hands on the day. The trading volume of RUN’s shares during the past session compares with the stock’s average daily trading volume of 3.956 million shares. On the other hand,a float of 117 million shares and a weekly performance of 7.12% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $49.83 for RUN’s share which suggests that the stock,price of which is currently buoying between $46.35 and $49.1,has a potential to gain 3.51%. But still,there are some analysts recommending a price below the agreed average price and one of them has given a target price of $25 to the stock.
The latest data released on July 31,2020 shows that the short float in the Sunrun Inc.’s stock is trending downward as short interest in RUN shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the RUN is currently comprised of 14.81% of the float as the volume of shorted shares declined by -485838 shares. Over the past two weeks,stock’s short interests improved as number of shorted shares reduced to 17.288 million shares from the previous figure of 17.774 million shares. Stock’s average intraday volume is now standing at 5.252 million shares which indicate that the days to cover the shorts are nearly 3.291457.
After concluding the day’s trading,price of Sunrun Inc. (NASDAQ:RUN) is up $3.65 over the week and it is $8.24 above 20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $49.42 that was attained on 08/17/20.
The stock has traded as low as $7.84 in past 52-week,and its current price is 514.42% above from that 52-week low price mark recorded on 03/17/20,which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 1.8. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 66.5 as 14-days RSI of Sunrun Inc. This means that the RUN is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly,the stochastic oscillator is indicating a momentum of 86.22%,implying stock’s share price is buoying in an oversold state.
Technical chart is showing 1st resistance point of $49.67 for the RUN’s share while placing it at a 2nd resistance point of $50.76 to be settled at. But if the stock takes a plunge lower than the 1st support price of $46.92 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $45.26.
MACD oscillator is showing a reading of 1.37 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average,which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
KeyBanc Capital Markets lifted its recommendation for RUN stock from Sector Weight to Overweight in a review note dated July 13,and moved the price target up at $32. The stock gets its recommendation downgraded from Overweight to Sector Weight from the analysts at KeyBanc Capital Markets in their February 19 note to investors.JP Morgan analysts started covering the stock with recommendation of Overweight rating on January 16,while suggesting a price target of $19 to it.
The average rating of 1.89 for RUN is placing the stock in bullish category at the moment. In a poll by Reuters including 9 analysts in it who kept tracking the Sunrun Inc.,1 rated the stock as hold. Others were in different opinions for the RUN. Out of remaining 8 analysts,8 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.
A quick look at other side of the picture shows that RUN stock is ahead of earnings per share estimates with a forward price-to-earnings ratio of 66.31. Stock’s current price-to-sales (P/S) ratio of 0 is at the rear of industry’s average P/S ratio of 74.1. A comparison of Sunrun Inc.’s trailing 12-months P/E ratio of 6.7 implies that it is trading above the industry’s average P/E ratio,which currently is 4.2.
Projection by Zacks Consensus Estimates suggests that Sunrun Inc. (NASDAQ:RUN) will see its current-quarter revenues drop by nearly -99.88% to be decreased to about $215 million. Full-year revenue of the company is however forecasted to be fell to nearly -0.87% to bring $851 million in revenues against last year revenue of $859 million. Earnings,after adjustments,are likely to fell by -17.39% to post an EPS of $0.19,while estimate for company’s full year earnings is $0.23 per share with a growth rate of 9.52%.