|Bid||13.62 x 900|
|Ask||13.80 x 3200|
|Day's Range||13.26 - 13.62|
|52 Week Range||8.81 - 21.42|
|Beta (3Y Monthly)||0.68|
|PE Ratio (TTM)||209.54|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Enphase Energy (ENPH) signs a strategic supply deal with Sunrun for supplying its IQ7 microinverters to the later. The microinverters will get installed in Sunrun's residential solar projects.
The company has added hundreds of jobs in Denver since 2016, but solar's growth has been faster.
(RUN) stock was down 8% Wednesday afternoon after the company said it is having trouble hiring enough people to sell and install solar panels, leading to lower than expected growth in its customer base. Sunrun (ticker: RUN), the largest residential solar deployer in the U.S., surpassed analysts’ expectations for earnings per share for the quarter, posting 23 cents versus the expected 8 cents. SunRun added 11,400 customers who lease panels from the company in the quarter.
Sunrun's (RUN) operating expenses rise 20.7% year over year to $275.9 million in the third quarter on escalated costs of customer agreements and incentives, among other factors.
(Bloomberg) -- A proposal by a single utility threatens to upend California’s sweeping mandate requiring solar panels on almost every new home.The Sacramento Municipal Utility District is asking state regulators to allow its customers to get power from solar farms instead of installing their own panels, saying they should have a choice. Rooftop solar installers are meanwhile warning that this would undercut California’s clean-energy goals.The utility’s proposal, which California energy regulators are expected to vote on Wednesday, would be a big win for home builders -- who’ve warned that the state’s solar mandate will drive up housing costs -- and would deal a major blow to Sunrun Inc., Vivint Solar Inc. and other panel installers that were betting on the rule for a surge in sales. The plan also threatens to undermine a movement to make rooftop panels mainstream and has broader implications for lawmakers elsewhere who were looking to follow California’s lead.“If this proposal goes through, we should expect to see other utilities follow,” said Benjamin Davis of the California Solar & Storage Association, which represents panel installers. “This is just essentially a loophole.”The California Energy Commission member who spearheaded the state’s solar mandate, Andrew McAllister, said its intention was to power more homes with clean energy -- regardless of whether it’s from rooftop panels or solar farms.“This is all additional, so it’s all good,” McAllister said in an interview. “I think the either-or approach is kind of a red herring.”The mandate was unprecedented when enacted last year as part of former-Governor Jerry Brown’s effort to slash California’s carbon emissions. It required most new homes built starting in 2020 to include solar systems. Builders and others warned it would drive up the cost of buying a house by almost $10,000.Read More: California Becomes First State to Order Solar on New HomesThe rule includes a provision that allows utilities and others to propose programs for homeowners to forgo rooftop panels and instead get power from “community solar” farms, which are generally smaller installations close to customers they serve. Critics argue the Sacramento utility’s proposal shouldn’t be considered “community solar” because the power plants are too far away or too large.About CompetitionPanel installers contend rooftop systems have advantages over solar farms because they’re more likely to spur homeowners to install batteries and don’t require significant upgrades to the grid. That includes building transmission lines, which have been blamed for sparking deadly wildfires in California.Sunrun, based in San Francisco, said the proposal to allow homeowners to choose is a “substantial step backward for clean energy in California.” The company’s chief executive officer, Lynn Jurich, said the plan is really about “competition, where utilities are wanting to sell more power directly” and said the argument that this is about customer choice doesn’t “hold water.”“It’s really out of touch with what’s happening in the world,” she said in an interview Tuesday. Sacramento’s utility, known as SMUD, serves 1.5 million customers and is the first in the state to propose the idea. “I have no doubts that this is in compliance,” said Tim Tutt, SMUD’s program manager for state and regulatory affairs. “We made very sure about that.”\--With assistance from Brian Eckhouse.To contact the reporter on this story: Nic Querolo in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Lynn Doan at email@example.com, Joe Ryan, Brian EckhouseFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, increasing oil prices and deteriorating expectations towards the resolution of the trade war with China, many smart money investors kept their cautious approach regarding the current bull run in the second quarter and hedging or reducing many of […]
Longi Solar, a manufacturer of monocrystalline solar cells and modules, reported third-quarter results last week that did not meet expectations. The China-traded company traded lower, as preliminary earnings were 10% below the consensus estimate at the midpoint, according to GLJ Research. "In short, based on our checks this morning in China, we believe weaker-than-expected module shipments are likely the reason for Longi's (large) 3Q19 earnings miss," GLJ Research's Gordon Johnson said in an Oct. 16 note.
Sunrun, the nation’s biggest residential solar business, opened new offices filling four floors of a downtown Denver skyscraper on Monday, declaring it the company’s second headquarters. Dozens of the more than 700 employees who work at the Sunrun Inc. (Nasdaq: RUN) offices gathered for a formal ribbon cutting with Gov. Jared Polis and cheered at the announcement that the San Francisco-based company now has nearly twice as many employees in Denver as it does at its home base. “As a growing business, we can’t do everything in San Francisco,” chuckled Ed Fenster, co-founder and board chairman of Sunrun, in an interview before the celebration in the Johns Manville Plaza outside.
Solar panel maker First Solar (FSLR) plans to report its Q3 earnings on October 24. Analysts expect the company to report earnings per share of $1.19.
Velan Capital and LTE Partners disclosed jointly on Sept. 19 that they added 658,061 shares to their stake in the cancer-focused biopharmaceutical at prices of $4.39 to $4.99 each from Sept. 3 to Sept. 9. The investors now hold a total of 10,161,733 shares, equal to about 11.5% of Progenics’ outstanding stock.
Top solar stock First Solar (FSLR) has surged about 10% in September. FSLR is trading close to its 52-week high and might continue to march upward.
A solar provider and a beauty products giant saw notable insider buying this past week. Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason -- they believe the stock price will rise and they want to profit from it. Sunrun Inc (NASDAQ: RUN) saw 10% owner Tiger Global Management acquiring additional shares.
Driver Management revealed on Sept. 5 that it holds 360,637 shares of the community bank, equal to nearly 5.1% of the outstanding stock. Driver continued that First United “lacks scale to justify an elevated expense base” and possess a branch network that has been unable to “create sufficient operating leverage due to lackluster organic loan growth.” Driver recommends that a sale to a larger peer would be the best route to enhance shareholder value. It believes that such a move would “unlock the value of [First United’s] high-quality deposit franchise and attractive trust and wealth management businesses,” and also lift shareholder value without the “risk and uncertainty” of First United attempting to scale-up its business on its own.