Streetbeat News

RUN

Sunrun Inc.

https://www.sunrun.com

Industry

Solar

Sunrun Inc. engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems. Its primary customers are residential homeowners. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California.

Open

12.05

Mkt cap

2.6B

Volume

13M

High

12.28

P/E Ratio

-2.63

52-wk high

22.26

Low

11.59

Div yield

N/A

52-wk low

8.82

Sunrun announced the pricing of a $475 million offering of convertible senior notes, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 8:51 pm

Sunrun Inc (NASDAQ:RUN) shares dropped 4% to $12.26 after announcing a $475 million convertible senior notes offering due 2030, with an option for an additional $75 million. The notes have a 4.00% interest rate and an initial conversion price of $16.29 per share. Sunrun plans to use the proceeds for repurchasing its 2026 notes, capped call transactions, and general corporate purposes. Additionally, Sunrun's past 5-year annualized stock performance is -4.04%, projecting a potential future stock price of $10.11.

Portfolio Pulse from Henry Khederian

February 23, 2024 | 4:02 pm

Financial analysts have observed a bullish trend in options trading for Sunrun (NASDAQ:RUN), with a significant portion of traders showing optimism. The analysis highlighted a preference for a price range between $12.5 and $20.0 for Sunrun. Recent options trading activity includes both calls and puts with varying sentiments and strike prices. Sunrun, a company specializing in residential solar energy systems, has seen its stock price decrease by -3.21% to $12.37. Analysts have set a consensus target price of $21.75 for Sunrun, with ratings ranging from Market Perform to Outperform.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 3:15 pm

Sunrun Inc. (NASDAQ:RUN) has announced the pricing of $475 million in 4.00% convertible senior notes due 2030, with an option for initial purchasers to buy an additional $75 million. The notes will be sold at 99.75% of their principal amount, with the sale expected to close on February 27, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 6:30 am

Sunrun (NASDAQ:RUN) has been analyzed by 10 analysts, showing a mix of bullish to bearish sentiments. The average 12-month price target is $23.0, up from $19.89, with a high of $31.00 and a low of $15.00. Analyst actions include ratings adjustments and price target changes, reflecting dynamic market conditions and company performance. Sunrun's financials indicate challenges with a -10.88% revenue decline, a net margin of -189.9%, and a high debt-to-equity ratio of 1.9.

Portfolio Pulse from Benzinga Insights

February 22, 2024 | 8:00 pm

BMO Capital analyst Ameet Thakkar has maintained a Market Perform rating on Sunrun (NASDAQ:RUN) and increased the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 4:00 pm

Sunrun Inc (NASDAQ:RUN) reported Q4 financial results with revenue of $516.59 million, missing estimates of $530.37 million, and a loss of $1.33 per share, below the expected loss of 29 cents per share. The company announced a partnership with Lowe's Companies Inc (NYSE:LOW) and proposed a $475 million convertible senior notes offering. Despite initial gains, Sunrun shares fell 7.57% to $14.40. Sunrun expects lower net subscriber value in Q1 but reiterates positive cash generation guidance for 2023-2024.

Portfolio Pulse from Adam Eckert

February 22, 2024 | 2:13 pm

Sunrun's stock price declined following the announcement of disappointing Q4 financial results and a proposed private offering of $475 million in convertible senior notes.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 2:13 pm

Nvidia's impressive earnings report has sparked optimism in the market, leading to a jump in Nasdaq and S&P 500 futures. Investors are now focused on upcoming economic data, including jobless claims and Fed speeches, to gauge the market's direction. Other stocks mentioned include Five9, Lucid Group, Rivian Automotive, Sunnova Energy, and Sunrun, which moved on their earnings reports. Additionally, several companies are set to report their quarterly results.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 12:23 pm

Rivian Automotive reported a Q4 loss and plans to reduce its workforce by 10%, leading to a 14.3% drop in pre-market trading. Other stocks like Etsy, Lucid Group, RAPT Therapeutics, Gold Fields, Sunrun, and Sunnova Energy also saw pre-market losses due to various reasons including mixed financial results, clinical holds, and weak quarterly results.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 10:28 am

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