Solar Stocks for the Win (NASDAQ: SPWR) (NASDAQ: RUN) (OTC US: GSFI) (NASDAQ: SEDG)
February 17, 2021 at 06:58 AM EST
The climate agenda has taken center stage as the Biden administration takes control in Washington DC and the Dems grab the wheel in both houses of Congress and look to enact an agenda with environmental sustainability at its heart.
The upshot is likely to be continued strength in the solar stocks on the back of an expected $400 billion in clean energy funding set to roll out of DC over the intermediate term.
With that in mind, we take a closer look at some of the more interesting names in the solar energy space, including: SunPower Corporation (NASDAQ: SPWR), Sunrun Inc. (NASDAQ: RUN), Green Stream Holdings In.c (OTCMKTS: GSFI), and Solaredge Technologies Inc. (NASDAQ: SEDG).
SunPower Corporation (NASDAQ: SPWR) operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors.
SPWR also offers commercial rooftop and ground-mounted solar power systems, and residential mounting systems, as well as utility-scale photovoltaic power plants. In addition, the company provides post-installation operations and maintenance services.
SunPower Corporation (NASDAQ: SPWR) recently announced the new mySunPower™ app, the company’s new experience for homeowners to review and manage their energy generation, consumption, and battery storage settings from a mobile device.
According to the release, the new mySunPower app for monitoring will be available for download for SunPower Equinox® customers on Feb. 16 on the Apple App Store and Google Play and will be available to all of SunPower’s 285,000 monitoring customers by spring 2021.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. SPWR shares have been moving higher over the past week overall, pushing about 3% to the upside on above average trading volume.
SunPower Corporation (NASDAQ: SPWR) pulled in sales of $274.8M in its last reported quarterly financials, representing top line growth of -42.3%. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($341.3M against $754.3M, respectively).
Sunrun Inc. (NASDAQ: RUN) promulgates itself as the nation’s leading home solar, battery storage, and energy services company. Founded in 2007, Sunrun pioneered home solar service plans to make local clean energy more accessible to everyone for little to no upfront cost.
Sunrun’s innovative home battery solution, Brightbox, brings families affordable, resilient, and reliable energy. The company can also manage and share stored solar energy from the batteries to provide benefits to households, utilities, and the electric grid while reducing our reliance on polluting energy sources.
Sunrun Inc. (NASDAQ: RUN) recently announced that Freedom Forever has selected the company as its primary solar + battery as-a-service provider for the next three years as part of the partnership.
According to the release, the company will leverage Sunrun’s industry-leading home solar and battery service offering, as well as its well-known and trusted brand with consumers to make affordable, clean, and reliable energy a reality for more American households. Freedom Forever’s best in class operations and vast network of highly-trained independent sales dealers will use an industry-leading platform from Sunrun to help them reach more people and better provide affordable new products, including solar and battery offerings at no-money-down and a low monthly cost.
And the stock has been acting well over recent days, up something like 2% in that time. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -8%.
Sunrun Inc. (NASDAQ: RUN) generated sales of $209.8M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 15.7% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($381.4M against $596.2M, respectively).
Green Stream Holdings Inc. (OTCMKTS: GSFI) is a more speculative name in the space, but has engineered a unique and intriguing model that could shake up the space to the benefit of its shareholders provided that the execution comes together effectively.
The Company targets commercial property owners with a surplus of rooftop or sky-facing square footage space for installation of photovoltaic systems to harness energy access at prices outcompeting local utility pricing. GSFI uses solar power purchase agreements (PPAs) or equipment leasing arrangements with the property owners, and benefits from marginal efficiencies as well as various federal or state tax credits, regulatory agency rebates, and long-term revenue streams generated from the sale of the harnessed electricity.
Green Stream Holdings Inc. (OTCMKTS: GSFI) has entered into a growing number of deals based on this model (since July 2020) with separate, unaffiliated residential and commercial real estate owners in New York and New Jersey for hosting solar infrastructure systems yielding 100-250 thousand kWh (kilo Watt-hours) in annual output per site.
According to a recent analyst report, “Depending on the specifications of the facility and applicable tax credits, Green Stream expects to spend between approximately $60,000 to $2,000,000 for development, sourcing and construction of each system. Possibly the largest of the proposed projects in terms of PV system size, located at 160 Imlay Street, Brooklyn, NY, where the Company announced relocating its headquarters last month, is expected to reach a minimum of 300-450 kW of electric power, utilizing between 1000 and 1440 panels on approximately 22,000 square foot space.”
Shares of the stock have been ramping over the past two months, pushing as much as 600% higher in that time, with volume soaring as the retail investor crowd piles into the space.
Green Stream Holdings Inc. (OTCMKTS: GSFI) has yet to begin booking revenues, but the company has put in place a fertile pathway to potential strong results in the future given its positioning and range of projects in one of the most promising market spaces for investors over coming years.
Solaredge Technologies Inc. (NASDAQ: SEDG) trumpets itself as a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems.
The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions.
Solaredge Technologies Inc. (NASDAQ: SEDG) recently announced the appointment of Yogev Barak as Chief Marketing Officer of SolarEdge and the appointment of SehWoong Jeong as Chief Executive Officer of its subsidiary, Kokam.
“I am excited to have Yogev and SehWoong join our senior management team and I am confident the leadership and industry experience they bring will help us continue to grow in the solar market and new segments we are addressing,” said Zvi Lando, CEO of SolarEdge Technologies, Inc.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. SEDG shares have been moving higher over the past week overall, pushing about 4% to the upside on above average trading volume. Shares of the stock have powered higher over the past month, rallying roughly 17% in that time on strong overall action.
Solaredge Technologies Inc. (NASDAQ: SEDG) managed to rope in revenues totaling $338.1M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -17.6%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($1.2B against $382.5M).
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