Stock Track | Sunrun Plunges 5% After Disappointing Q3 Results, Analyst Downgrade

Stock Track

Nov 08, 2024

Shares of Sunrun Inc. (NASDAQ: RUN) plummeted 5% on Wednesday after the solar energy company reported disappointing third-quarter results and received an analyst downgrade.

Sunrun reported Q3 adjusted earnings of -$0.37 per share, missing analysts' expectations of -$0.14 per share. Revenue of $537.17 million also fell short of the consensus estimate of $564.2 million. The company cited ongoing supply chain challenges and higher costs for the weaker-than-expected performance.

Adding to the selling pressure, Exane BNP Paribas downgraded Sunrun from Outperform to Neutral and lowered its price target to $14, citing concerns over slowing growth and profitability. The analyst expressed skepticism about Sunrun's ability to achieve its financial targets in the current challenging environment.

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(NASDAQ: RUN) plummeted 5% on Wednesday after the solar energy company reported disappointing third-quarter results and received an analyst downgrade.</p>\n\n<p>Sunrun reported Q3 adjusted earnings of -$0.37 per share, missing analysts' expectations of -$0.14 per share. Revenue of $537.17 million also fell short of the consensus estimate of $564.2 million. The company cited ongoing supply chain challenges and higher costs for the weaker-than-expected performance.</p>\n\n<p>Adding to the selling pressure, Exane BNP Paribas downgraded Sunrun from Outperform to Neutral and lowered its price target to $14, citing concerns over slowing growth and profitability. The analyst expressed skepticism about Sunrun's ability to achieve its financial targets in the current challenging environment.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RUN","symbol_name":"Sunrun Inc.","start_time":0,"source_url":"","article_id":"1144734701","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1144734701","pubTimestamp":1731076854,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Sunrun Inc.  plummeted 5% on Wednesday after the solar energy company reported disappointing third-quarter results and received an analyst downgrade.Sunrun reported Q3 adjusted earnings of -$0.37 per share, missing analysts' expectations of -$0.14 per share. 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