Benzinga | Oct 27, 2021 03:49PM EDT

Why Sunrun Shares Are Rising

Sunrun Inc (NASDAQ:RUN) shares are trading higher in sympathy with Enphase Energy, which reported better-than-expected third-quarter results and issued strong fourth-quarter guidance.

Enphase Energy reported quarterly earnings of 60 cents per share which beat the analyst consensus estimate of 48 cents per share by 25%. The company also reported quarterly sales of $351.50 million which beat the analyst consensus estimate of $343.15 million by 2.4%.

Keybanc analyst Sophie Karp also maintained Enphase Energy with an Overweight and raised the price target from $179 to $216.

Sunrun provides homeowners with clean, affordable solar energy and storage. It engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States.

Sunrun has a 52-week high of $100.93 and a 52-week low of $37.42.