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Sunrun (RUN) Soars 13.6%: Is Further Upside Left in the Stock?
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Sunrun (RUN - Free Report) shares soared 13.6% in the last trading session to close at $11.93. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.5% loss over the past four weeks.
France recently announced its plans to double the nation’s renewable output, including solar energy. This along with the fact that California regulators have delayed a decision to cut rooftop solar panel installation incentives might have led to the latest share price hike for RUN.
This solar energy products distributor is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -105.2%. Revenues are expected to be $562.19 million, down 11% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sunrun, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RUN going forward to see if this recent jump can turn into more strength down the road.
Sunrun is a member of the Zacks Solar industry. One other stock in the same industry, Sunnova Energy (NOVA - Free Report) , finished the last trading session 11.1% higher at $9.89. NOVA has returned -29.9% over the past month.
For Sunnova Energy, the consensus EPS estimate for the upcoming report has changed +1.2% over the past month to -$0.28. This represents a change of +48.2% from what the company reported a year ago. Sunnova Energy currently has a Zacks Rank of #3 (Hold).
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Sunrun (RUN) Soars 13.6%: Is Further Upside Left in the Stock?
Sunrun (RUN - Free Report) shares soared 13.6% in the last trading session to close at $11.93. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.5% loss over the past four weeks.
France recently announced its plans to double the nation’s renewable output, including solar energy. This along with the fact that California regulators have delayed a decision to cut rooftop solar panel installation incentives might have led to the latest share price hike for RUN.
This solar energy products distributor is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -105.2%. Revenues are expected to be $562.19 million, down 11% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sunrun, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RUN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sunrun is a member of the Zacks Solar industry. One other stock in the same industry, Sunnova Energy (NOVA - Free Report) , finished the last trading session 11.1% higher at $9.89. NOVA has returned -29.9% over the past month.
For Sunnova Energy, the consensus EPS estimate for the upcoming report has changed +1.2% over the past month to -$0.28. This represents a change of +48.2% from what the company reported a year ago. Sunnova Energy currently has a Zacks Rank of #3 (Hold).