Sunrun inventory surges, firm sees alternative after SunPower information for chapter

Sunrun inventory jumped almost 14% on Wednesday because the rooftop photo voltaic installer sees a chance to snag market share after competitor SunPower filed for chapter this week.

Sunrun CEO Mary Powell stated the corporate is having conversations with lots of SunPower’s former sellers and is bringing a few of them on as companions.

“This presents a chance for Sunrun to proceed our business management and acquire share in a financially disciplined and measured manner,” Powell advised analysts on the corporate’s second-quarter earnings name Tuesday.

SunPower filed for chapter Monday as the corporate has struggled for months within the face of excessive rates of interest and allegations of misconduct in its reporting practices. The chapter comes after SunPower halted new leases, installations and product shipments in July.

Sunrun has employed two former SunPower executives, Matt Brost and Ellen Struck, to guide the corporate’s new houses enterprise.

“We anticipate strategic progress within the new houses phase within the coming quarters,” Powell stated.

Sunrun posted a shock revenue for the second quarter and likewise beat Wall Road’s income expectations. The corporate launched money era steering of $350 million to $600 million for 2025.

Goldman Sachs raised its 12-month inventory value goal for Sunrun by $2 to $20 per share, implying 21% upside from Tuesday’s shut of $16.49.

“Wanting forward, we anticipate this sturdy money move to help continued market share positive aspects,” Goldman Sachs analyst Brian Lee advised shoppers in a notice Wednesday.

Sunrun’s inventory is up 55% over the previous month, although shares are down about 4% to this point this 12 months. The Invesco Photo voltaic ETF (TAN), in contrast, is up almost 2% over the previous month and down about 24% this 12 months.