Price Action to Note: Will Sunrun Inc Short Squeeze Soon?

Price Action to Note: Will Sunrun Inc Short Squeeze Soon?

The stock of Sunrun Inc (NASDAQ:RUN) hit a new 52-week low and has $4.13 target or 11.00% below today’s $4.64 share price. The 9 months bearish chart indicates high risk for the $484.54M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $4.13 price target is reached, the company will be worth $53.30 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.81M shares traded hands or 18.30% up from the average. Sunrun Inc (NASDAQ:RUN) has declined 26.40% since April 7, 2016 and is downtrending. It has underperformed by 31.18% the S&P500.

Analysts await Sunrun Inc (NASDAQ:RUN) to report earnings on November, 10. They expect $-0.43 earnings per share, down 4.88% or $0.02 from last year’s $-0.41 per share. After $0.31 actual earnings per share reported by Sunrun Inc for the previous quarter, Wall Street now forecasts -238.71% negative EPS growth.

Sunrun Inc (NASDAQ:RUN) Ratings Coverage

Out of 9 analysts covering Sunrun Inc (NASDAQ:RUN), 7 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 78% are positive. Sunrun Inc has been the topic of 20 analyst reports since August 31, 2015 according to StockzIntelligence Inc. Credit Suisse initiated the shares of RUN in a report on Monday, August 31 with “Outperform” rating. On Friday, January 22 the stock rating was initiated by Barclays Capital with “Overweight”. The rating was reinitiated by Credit Suisse on Thursday, November 3 with “Outperform”. The rating was initiated by Bank of America on Monday, August 31 with “Buy”. Goldman Sachs downgraded the stock to “Neutral” rating in Tuesday, January 5 report. The rating was maintained by Morgan Stanley with “Overweight” on Monday, December 21. Morgan Stanley maintained Sunrun Inc (NASDAQ:RUN) rating on Monday, March 14. Morgan Stanley has “Overweight” rating and $19 price target. The firm has “Overweight” rating by Morgan Stanley given on Tuesday, September 8. The rating was initiated by Goldman Sachs with “Buy” on Monday, August 31. Credit Suisse maintained Sunrun Inc (NASDAQ:RUN) rating on Monday, May 2. Credit Suisse has “Outperform” rating and $18 price target.

According to Zacks Investment Research, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California.”

More recent Sunrun Inc (NASDAQ:RUN) news were published by: Fool.com which released: “Why Sunrun Inc.’s Shares Plunged 17% in October” on November 08, 2016. Also Latimes.com published the news titled: “Sunrun partners with LG to provide residential electricity storage” on October 26, 2016. Fool.com‘s news article titled: “Sunrun Leaving Tesla for LG Chem Energy-Storage Solution” with publication date: October 31, 2016 was also an interesting one.

RUN Company Profile

Sunrun Inc. (Sunrun), incorporated on June 20, 2008, is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Firm is engaged in providing solar energy services and products to its customers. Sunrun has over 111,000 clients across 15 states, as well as the District of Columbia. With its solar service offerings, the Company installs solar energy systems on its customers’ homes and provide them the solar power produced by those systems for a 20-year initial term. In addition, the Company monitors, maintains and insures the system during the term of the contract.

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