5 Best Solar Stocks to Buy Now

3. Sunrun Inc. (NASDAQ:RUN)

Number of Hedge Fund Holders: 36

Sunrun Inc. (NASDAQ:RUN) is an American residential solar energy systems provider. It provides products such as panels, racks, solar leads, and battery storage. The firm is headquartered in San Francisco, California.

A risk reward tradeoff matrix analysis of Sunrun Inc. (NASDAQ:RUN)’s shares with its peers and the S&P 500 index reveals that the company is the least risky except for the S&P and has some of the highest potential upside. The company’s latest quarterly report saw it grow its revenues by a whopping 48% annually, and analyst projections estimate it to grow its revenue at an average of 13% over the course of the next four years. To further improve matters, this growth is still below the industry CAGR estimates of 25.7% for 2028.

Morgan Stanley increased Sunrun Inc. (NASDAQ:RUN)’s share price target to $79 from $70 in August 2022, highlighting that the Inflation Reduction Act will boost the company’s fortunes. As the second quarter of this year ended, 36 of the 895 hedge funds surveyed by Insider Monkey had held the company’s shares.

Sunrun Inc. (NASDAQ:RUN)’s largest investor is William B. Gray’s Orbis Investment Management which owns 12 million shares that are worth $303 million.