5 Cheap Solar Stocks to Buy

1. Sunrun Inc. (NASDAQ:RUN)

Number of Hedge Fund Holders: 47

Sunrun Inc. (NASDAQ:RUN) is a California-based renewable energy company that makes it to the top of our list of cheap solar stocks. It offers solar power systems and battery energy storage products. The company serves approximately 760,000 customers across the United States. 

Sunrun Inc. (NASDAQ:RUN) is trading at $27.22 as of December 19, which is almost 72% below its all-time high. However, the company has been growing at a significant pace over the years and still has room for growth. In Q3, the company outperformed its GAAP EPS estimates by $1.01 while the analysts were predicting a net loss of 5 cents per share. The revenue grew 44% year-over-year to $631.91 million. Moreover, the Net Subscriber Value reached $13,259 which is 67.62% over the previous quarter. In addition, Sunrun Inc. (NASDAQ:RUN)’s management expects the solar energy installed growth to be 25% more than 2021 levels.

In the last three months, Sunrun Inc. (NASDAQ:RUN) was covered by 15 analysts with 13 Buy or Overweight ratings. Their average price target of $47.87 represents an upside of 76% from the stock price as of December 19 market closing time.

In Q3, Orbis Investment Management was the most significant shareholder of Sunrun Inc. (NASDAQ:RUN) with 12.2 million shares, worth over $337 million.

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