A level of resistance has formed in the chart of Sunrun Inc . (NASDAQ:RUN). The stock has hit this level a couple of times and is heading towards it again. If it breaks through, a breakout is expected. Read more to learn how to set up this trade.Sunrun Inc. (RUN) 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. It also sells solar leads.
The company just posted its latest earnings results for the third quarter where it reported revenue of $439 million, which was a 109% year over year increase. However, net income fell from a loss of $85 million in the third quarter of 2020 to a loss of $241 million in the most recent quarter.
As of the end of the third quarter, RUN has a current ratio of 1.88 indicating it has more than enough liquidity to handle short-term obligations. For the current quarter, analysts expect sales to rise 29.2% year over year, while earnings are expected to surge 98.7% year over year.