Sunrun, Inc. (NASDAQ: RUN) Stock Jumps 10%+ Yesterday After Morgan Stanley Raises Price Target Suggesting 110% Upside; Will Bullish Outlook On Sunrun Have Ripple Positive Impact On Its Categories Residential Solar And EV Charging; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Operates In Both Sectors
Sunrun, Inc. (NASDAQ: RUN) stock jumped 10%+ yesterday and closed after hours at $49.88 after Morgan Stanley set a higher price target of $91 on its stock, suggesting a 110% upside from its Tuesday close. It also reiterated its overweight rating on the company, calling it “the most compelling clean energy stock.” The question is how this will raise Sunrun’s categories of residential solar and EV charging stations. Solar Integrated Roofing Corp. (OTC PINK: SIRC) operates in both sectors and reported 187% record higher FY2021 sales yesterday.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Sunrun, Inc. (NASDAQ: RUN) Stock Jumps 10%+ Yesterday After Morgan Stanley Raises Price Target Suggesting 110% Upside; Will Bullish Outlook On Sunrun Have Ripple Positive Impact On Its Categories Residential Solar And EV Charging; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Operates In Both Sectors
Morgan Stanley’s new analysis fueled Sunrun’s stock rise — but will it raise the entire residential solar and EV Charging Market categories. Analyst Steven Byrd in reiterating his ‘overweight’ rating on the company cited it as a growth opportunity in the renewable energy field with low financing costs for buyers. Its analysis also sees stock shares doubling for Sunrun. He likes solar more and sees the attractiveness of Sunrun providing reliable energy to states like California and Texas where energy grids have come under pressure from poor weather and fire.
Does all that portend well for public companies, such as SIRC, in the residential solar and EV Charging Station businesses? Sunrun and SIRC offer solar, sustainable and reliable energy. Sunrun, Inc. (NASDAQ: RUN) Stock Jumps 10%+ Yesterday After Morgan Stanley Raises Price Target Suggesting 110% Upside; Will Bullish Outlook On Sunrun Have Ripple Positive Impact On Its Categories Residential Solar And EV Charging; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Operates In Both Sectors.
In the EV Charging Station space, Sunrun (NASDAQ: RUN) turned heads on Wall Street when last month it signed an agreement to provide automaker Ford (NYSE: FORD) to become the preferred installer for Ford’s proprietary ‘Ford Intelligent Backup Power’ and home integration system for its new all-electric F-150 pickup truck Lightning. That puts Sunrun in a preferred position to be working and selling in residences, enabling it to install more solar system. The gas model of the F-150 is Ford’s top-unit vehicle seller today — beating all competitors. Ford (NYSE: FORD) said it is breaking all records on advance orders for the to-be-delivered Ligtning.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) In Both Residential Solar And EV Charging Station Markets
Solar Integrated Roofing Corp. (OTC PINK: SIRC) yesterday reported sharply higher volume of 187% to $17.1 million for its FY 2021 ended February 28, 2021. That compares to $9.1 million the prior year. Gross profits increased by 144% for the 2021FY To $3.5 million. SIRC continued its acquisition spree during the year and reaffirmed its guidance figure of at least $100 million in sales in the 12 months ended May 31, 2022. It also “expects” to reach profitability in FY 2022. Sunrun, Inc. (NASDAQ: RUN) Stock Jumps 10%+ Yesterday After Morgan Stanley Raises Price Target Suggesting 110% Upside; Will Bullish Outlook On Sunrun Have Ripple Positive Impact On Its Categories Residential Solar And EV Charging; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Operates In Both Sectors.
SIRC in addition to the record breaking volume performance in FY2021 was also focused on its plans to upgrade to the OTCQB Venture Market as a fully reporting company. It plans to refile its Form 10 as it needs to audit each of the companies it acquired as a fully reporting company. Sunrun, Inc. (NASDAQ: RUN) Stock Jumps 10%+ Yesterday After Morgan Stanley Raises Price Target Suggesting 110% Upside; Will Bullish Outlook On Sunrun Have Ripple Positive Impact On Its Categories Residential Solar And EV Charging; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Operates In Both Sectors.
David Massey, CEO of SIRC, said, “Fiscal 2021 was a record year for Solar Integrated Roofing and we believe we have positioned the Company for an even more exciting fiscal 2022. Over the course of the year our team has worked tirelessly to integrate our acquisitions and continues to seek new opportunities for growth. The solar, roofing and battery market continues to grow, and our brands are capturing additional market share. With our exceptional portfolio of companies and ongoing organic growth, we look forward to sharing our future achievements with our shareholders.”
He added, “The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to achieve profitability in FY 2022.”
In FY 2021, SIRC acquired Future Home Power, Balance LLC, Pacific Lighting Management or PLEMCo., Cornerstone Construction and Enerev LLC. All of them are in the solar, roofing, battery storage and back office space. Massey noted that this accelerated pace of acquisitions has grown SIRC into a national firm: “Our success has transformed our company into a national brand with services now spanning solar, battery backup, EV charging, roofing installation, HVAC work, electrical contracting and back-office technology support.”
Massey said SIRC reaffirms its $100 million revenue guidance for the 12 months ended May 31, 2022. He said, “We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term.”
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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