Why Sunrun Shares Are Soaring On Monday

Sunrun Inc RUN shares traded higher Monday morning, trading up more than 6% following a strong Monday session in which the stock traded up 10%. Morgan Stanley analyst Stephen Byrd maintained an ‘overweight’ rating on the clean-energy company Monday, and raised its price target to $39 from $30. 

Sunrun’s stock is trading up about 25% in the last month, amid strength in the clean-energy space. President Biden’s administration recently announced a $20 billion competition to catalyze investments in clean energy in the United States. 

Price Action: Sunrun’s stock opened Tuesday at $22.20 a share. The stock quickly jumped higher by about 7%, trading up to $23.40 a share Tuesday morning. 

Sunrun’s stock is also higher on Tuesday amid overall strength in small-cap stocks. The iShares Russell 2000 ETF IWM, which tracks 2000 small-cap companies, was outperforming all major indices Tuesday morning, in a sign that small-cap stocks could be coming back in favor among investors.