Sunrun Inc (NASDAQ:RUN) shares are surging Friday afternoon following a bullish analyst note from Wells Fargo, which nearly doubled its price target. Here’s what investors need to know.
What To Know: Wells Fargo analyst Michael Blum reiterated an Overweight rating on Sunrun and raised the firm’s price target to $14 from $8.
This vote of confidence comes on the heels of a blockbuster second-quarter earnings report. The company posted a surprise profit of $1.07 per share, smashing the consensus estimate for a loss of 18 cents.
Revenue also beat expectations, coming in at $569.33 million. Sunrun reported record storage growth and a 15% year-over-year increase in new subscriber additions, reflecting strong operational momentum.
Adding to the positive sentiment, Sunrun recently unveiled a new home energy plan in collaboration with Tesla Inc. The partnership, focused on the Texas market, aims to provide predictable electricity bills by pairing Tesla Powerwall energy storage with Sunrun’s solar offerings, potentially further enhancing the company’s position in the competitive home energy market.
Price Action: According to data from Benzinga Pro, RUN shares are trading higher by 7.78% to $11.29. The stock has a 52-week high of $22.23 and a 52-week low of $5.38.
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How To Buy RUN Stock
By now you're likely curious about how to participate in the market for Sunrun – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of Sunrun, which is trading at $13.49 as of publishing time, $100 would buy you 7.41 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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