5 Best Solar Energy Stocks to Invest In

3. Sunrun Inc. (NASDAQ: RUN)

Number of Hedge Fund Holders: 41

Sunrun Inc. (NASDAQ: RUN) is a developer and installer of residential solar energy systems in the US. The company also sells solar energy systems and products like panels and racking and ranks 3rd on our list of the best solar energy stocks to invest in.

On June 16th, Sunrun Inc. (NASDAQ: RUN) rallied after Morgan Stanley raised its price target to $91 from the previous $86 figure, in light of the firm considering it one of the “most compelling” stocks in the clean energy sector. In the first quarter of 2021, Sunrun Inc. (NASDAQ: RUN) had EPS of -$0.12, missing estimates by -$0.08, and its revenue was $334.79 million, beating estimates by $10.81 million. The company has a gross profit margin of 17.77%. Sunrun Inc. (NASDAQ: RUN) has gained 177.92% in the past year.

By the end of the first quarter of 2021, 41 hedge funds out of the 866 tracked by Insider Monkey held stakes in Sunrun Inc. (NASDAQ: RUN). The total value of their stakes was roughly $24 billion. This is compared to the previous quarter’s 48 hedge fund holders with a total stake value of approximately $30 billion. Like Sunnova Energy International Inc. (NYSE: NOVA), Tesla, Inc. (NASDAQ: TSLA), NextEra Energy, Inc. (NYSE: NEE), and Brookfield Renewable Corporation (NYSE: BEPC), this is a good stock to invest in.