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The New Solar Bull is Underway (ARRY, RUN, GSFI, SEDG)

While everyone knew a victory for Biden would be a boon for the Solar space, the jets really locked into place on Jan 5, when the Georgia Senate run-off vote unexpectedly put the Dems in charge of Capitol Hill across the board.

Biden’s plans have been well-documented, with as much as $400 billion set to go to clean energy programs (according to his site), which is about twice as much, in today’s dollar terms, as we invested in putting a man on the moon back in the 1960’s.

That has poured juice into the solar investment theme, with good reason, and ignited what stands to be a chronic leadership narrative for the space as we push deeper into a new year.

With that in mind, we take a closer look at some of the more interesting names in the solar energy space, including: Array Technologies, Inc. (NASDAQ:ARRY), Sunrun Inc (NASDAQ:RUN), Green Stream Holdings Inc (OTCMKTS:GSFI), and Solaredge Technologies Inc (NASDAQ:SEDG).

 

Array Technologies, Inc. (NASDAQ:ARRY) is a leading global technology company providing tracker solutions and services for utility-scale solar energy projects as one of the world’s largest manufacturers of ground-mounting systems.

With efficient installation and terrain flexibility coupled with high reliability, durability, and performance, Array delivers a lower levelized cost of energy. The Company’s focus on innovation, combined with its customer-centric approach, has helped achieve some of the industry’s best returns.

Array Technologies, Inc. (NASDAQ:ARRY) recently announced it has entered into an agreement to supply 1GW of DuraTrack® HZ v3 single-axis solar trackers to RP Construction Services, Inc. RPCS provides design-build services for small and medium-sized ground-mounted solar energy projects across the U.S. and is the leading contractor for solar energy projects under 25 MWs.

“The endorsement of the segment-leading contractor for distributed energy projects underscores both the strength of our product offering and the value our trackers can create for projects of all sizes,” said Jim Fusaro, Chief Executive Officer of Array. “The small-utility, municipal, medium-sized commercial and community solar markets are growing rapidly, and collaborating with RPCS to address this segment of the market should further accelerate our growth in the U.S. I am also pleased that this order follows on the Lightsource bp purchase agreement announced earlier this month, making it the second order over 1 GW that we have received in the past 30 days.”

If you’re long this stock, then you’re liking how the stock has responded to the announcement. ARRY shares have been moving higher over the past week overall, pushing about 5% to the upside on above average trading volume.

Array Technologies, Inc. (NASDAQ:ARRY) had no reported sales in its last quarterly financial data. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($361.3M against $0).

 

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) most recently announced that Freedom Forever has selected Sunrun 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.

Even in light of this news, RUN has had a rough past week of trading action, with shares sinking something like -3% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way.

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) represents a perfect example of the speculative promise of the solar space as money pours into the “Environmental, Social, and Governance” investment zone amid a governmental transition that marks huge opportunity for the Solar space. This is precisely the type of stock that deserves close attention because it has a new and original model for making the “community solar” thesis work.

The company recently made a change at the top, announcing that, on November 9, 2020, its Board of Directors approved the appointment of finance and real estate guru Eric Fain as the Company’s new Chief Executive Officer.

Mr. Fain offers a history of profitable business ventures. In addition to a proven track record in driving the rapid growth and development of businesses, Fain specializes in sales of luxury condominiums and development of new real estate ventures. He has extensive experience as a proprietary equity trader as well, and his ability to cultivate deals has resulted in significant increases in revenue and market share for the companies he serves.

Green Stream Holdings Inc (OTCMKTS:GSFI) bills itself as an emerging leader in the solar utility and finance space. The company sees “a new era for Renewable Energy and its Solar Utilities/Financing model as stocks rise in advance of the inauguration of Joe Biden as the 46th President of the United States,” according to its most recent release.

Fain noted that he is encouraged by the increased opportunity Biden’s new agenda could mean for companies like Green Stream Holdings. “I believe we are at the dawn of a new era for renewable energy and, in turn, an increased access to market with ability to expedite shareholder value as we cultivate new opportunities alongside our current projects in New York, including 160 Imlay Street, Brooklyn NY; 8012 Tonelle Ave, North Bergen, NJ; 44 Victory Blvd, Staten Island, NY; 111 Station Road, Bellport, NY; 15-17 Sherwood Ave – Yonkers Proposal; and 4290 Austin Blvd, Island Park, NY. We have recently moved our headquarters to a functional work/living space which belongs to our flagship project at 160 Imlay Street in Brooklyn, New York, where our utility/financing model can be seen in action as we continue to develop opportunities in the NE United States and beyond.”

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) most 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.

Even in light of this news, SEDG has had a rough past week of trading action, with shares sinking something like -4% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way.

Solaredge Technologies Inc (NASDAQ:SEDG) generated sales of $338.1M, 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 1.9% on the top line. 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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