In a turbulent market environment, Sunrun Inc . (NASDAQ:RUN) stock has touched a 52-week low, dipping to $9.01, with the current price at $9.04 and market capitalization of $2.03 billion. InvestingPro analysis suggests the stock is trading slightly below its Fair Value, with additional insights available through their comprehensive Pro Research Report. The residential solar company has faced significant headwinds over the past year, reflected in the stock's performance with a substantial 1-year change showing a decline of -34.42%. The company's revenue declined by 13.46% in the last twelve months, though it maintains a healthy current ratio of 1.47. Investors have been cautious as the broader renewable energy sector grapples with policy uncertainties and supply chain constraints, factors that have contributed to Sunrun's stock price pressure. Despite the current lows, with the stock trading at just 0.39 times book value, the market is closely watching for any signs of recovery or strategic shifts that might signal a turnaround for the solar industry leader. InvestingPro subscribers can access 17 additional key insights about Sunrun's financial health and market position.
In other recent news, Sunrun, a prominent player in the residential solar market, has been the focus of several analyst adjustments. UBS analyst Jon Windham upgraded Sunrun from Neutral to Buy, raising the price target to $17.00. He cited Sunrun's significant growth in market share within California and the increasing deployment of battery storage in new projects as reasons for the positive outlook. On the other hand, Clear Street cut Sunrun's stock price target to $23 from $25, reflecting a cautious but still optimistic view of the company's prospects amid external uncertainties.
In addition, Sunrun announced a reshuffling of its board of directors with the departure of Gerald Risk and the appointment of John Trinta as the new Audit Committee Chair. TD Cowen initiated coverage on Sunrun with a Buy rating, expressing confidence in the company's cash generation goals. However, other firms, including Piper Sandler, Truist Securities, and BMO Capital Markets, adjusted their stance on the company, citing concerns about cash generation capabilities and policy risks.
In terms of performance, Sunrun reported robust third-quarter results, achieving a milestone of 1 million customers and a record number of storage installations. The company's annual recurring revenue surpassed $1.5 billion, a 22% increase from the previous year, and installed 336 megawatt hours of storage, a 92% increase over the prior year. Looking forward, Sunrun projects a cash generation of $50 to $125 million in the next quarter and $350 to $600 million in 2025. The company also anticipates installing 320 to 350 megawatt-hours of storage and 240 to 250 megawatts of solar capacity.
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