7 Best Alternative Energy Stocks To Buy According to Analysts

3. Sunrun Inc. (NASDAQ:RUN)

Average Upside Potential as of May 21: 55.87%

Number of Hedge Fund Holders: 37

Sunrun Inc. (NASDAQ:RUN) is one of the best alternative energy stocks according to analysts. It is involved in the design, installation, and development of residential solar energy systems in the United States. On May 8, the company released its financial results for the first quarter of 2024. It reported a strong Q1 in terms of installed storage capacity. The company saw a 192% year-over-year increase in its installed capacity reaching 207 megawatt hours in the first quarter of 2024. The company has surpassed the Q1 guidance range for storage and solar installations. Its net earning assets increased to $5.2 billion in Q1.

As of May 21, Sunrun Inc. (NASDAQ:RUN) has an overweight rating, based on the consensus of 31 analysts. The stock has an average price forecast of $17.8 and a high price target of $42. It has an average upside potential of 55.87%, compared to its current price of $11.42.

According to Insider Monkey’s database, 37 hedge fund managers were long Sunrun Inc. (NASDAQ:RUN) at the end of the first quarter, with stakes exceeding $706 million. Of those, Orbis Investment Management is the top shareholder of the company, with positions worth $187.56 million.

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