5 Best Environmental Stocks to Invest In

4. Sunrun Inc. (NASDAQ:RUN)

Number of Hedge Fund Holders: 37

Sunrun Inc. (NASDAQ:RUN) engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. Solar stocks like Sunrun Inc. (NASDAQ:RUN) are well positioned to appreciate in value since the Biden administration waived solar panel tariffs this June. Analysts and investors are eyeing solar energy stocks like Sunrun Inc. (NASDAQ:RUN) as they are presenting a compelling entry point.

On June 20, Goldman Sachs analyst Brian Lee trimmed his price target on Sunrun Inc. (NASDAQ:RUN) to $36 from $40 and reiterated a Buy rating on the shares. On June 29, Wells Fargo analyst Michael Blum initiated coverage of Sunrun Inc. (NASDAQ:RUN) with an Equal Weight rating and a $27 price target and noted that he sees Sunrun Inc.’s (NASDAQ:RUN) consumer base to grow by 18% over the next 10 years.

Hedge funds are initiating positions in Sunrun Inc. (NASDAQ:RUN). At the end of Q1 2022, 37 hedge funds held stakes in Sunrun Inc. (NASDAQ:RUN) worth $918.72 million. This is compared to 31 hedge funds in the preceding quarter with stakes of $1.02 billion.

As of March 31, Orbis Investment Management owns over 10.7 million shares of Sunrun Inc. (NASDAQ:RUN) and is the largest shareholder in the company. In Q1 2022, Orbis Investment Management raised its stakes in Sunrun Inc. (NASDAQ:RUN) by 58% and brought them to $325.34 million.