5 Cheap Solar Stocks To Buy According To Analysts

2. Sunrun Inc. (NASDAQ:RUN)

Average analyst price target: $21.21

Average analyst price target upside as of November 6: 106.12%

Sunrun Inc. (NASDAQ:RUN) is a California-based company that offers solar storage and related services to residential customers.

On November 1, Sunrun Inc. (NASDAQ:RUN) posted its Q3 non-GAAP EPS of $0.40, surpassing the estimates by $0.56, and the revenue reported by the company was $563.18 million. In Q3, the company reported 33,806 in customer additions and $1.2 billion in annual recurring revenue from subscribers.

Out of the 910 elite hedge funds tracked by Insider Monkey, 24 had a stake in Sunrun Inc. (NASDAQ:RUN) in the second quarter. William B. Gray’s Orbis Investment Management increased its stake in the company by 7% and was the most significant shareholder of the company, with 13.997 million shares worth $249.991 million. 

On November 3, it was announced that Sunrun Inc. (NASDAQ:RUN) was among the companies that the U.S. Energy Department is considering for an award of up to $440 million for rooftop solar and battery storage systems which will be sent to Puerto Rico. The award will be the first part of a $1 billion fund that comes under legislation President Joe Biden signed in 2022 that is aimed at increasing Puerto Rico’s energy resilience.

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