5 Best Solar Energy Stocks to Buy Today

3. Sunrun Inc. (NASDAQ:RUN)

Number of Hedge Fund Holders: 45

Sunrun Inc. (NASDAQ:RUN) is a San Francisco-based solar energy firm that ranks third on the list of 10 best solar energy stocks to buy today. The company manufactures and sells residential solar energy systems in the US. Sunrun Inc.’s (NASDAQ:RUN) systems are reported to have offset more than 2.5 million metric tons of CO2 in the last twelve months, according to the company’s Q2 report.

On September 9, Needham analyst Vik Bagri initiated a Buy rating on Sunrun Inc. (NASDAQ:RUN) with a price target of $75 per share, highlighting RUN’s 15% share of the residential solar market. The analyst cited that the fast adoption of EVs can keep Sunrun Inc. (NASDAQ:RUN) expanding in the future.

The company’s revenue in the second quarter grew 121% to $401.2 million and beat revenue estimates by $35.13 million. Sunrun Inc. (NASDAQ:RUN) added 26,110 new customers in the second quarter, bringing the total number of customers to 599,743 as of June 30, 2021.

At the end of the second quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $2.52 billion in Sunrun Inc. (NASDAQ:RUN), up from 41 hedge funds in the previous quarter worth $2.40 billion.