Sunrun (NASDAQ:RUN) Stock Price Up 8.3% – Time to Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) shot up 8.3% on Wednesday . The stock traded as high as $8.85 and last traded at $9.0650. Approximately 4,141,445 shares changed hands during trading, a decline of 56% from the average daily volume of 9,479,824 shares. The stock had previously closed at $8.37.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RUN. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. UBS Group dropped their target price on Sunrun from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $17.00 price target on shares of Sunrun in a research note on Friday, May 8th. Citigroup dropped their target price on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Sunrun from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $16.81.

Sunrun Stock Up 9.1%

The company has a market cap of $2.20 billion, a price-to-earnings ratio of 6.14 and a beta of 2.36. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The stock has a 50-day simple moving average of $10.89 and a 200-day simple moving average of $12.89.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, August 5th. The energy company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. The business had revenue of $869.99 million for the quarter, compared to the consensus estimate of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business’s revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. As a group, analysts predict that Sunrun Inc. will post 1.18 EPS for the current year.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 15,613 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.18, for a total transaction of $205,779.34. Following the completion of the transaction, the executive owned 839,539 shares of the company’s stock, valued at approximately $11,065,124.02. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the completion of the sale, the director directly owned 367,405 shares in the company, valued at $3,659,353.80. This trade represents a 11.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 173,045 shares of company stock valued at $2,138,835. 3.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Institutional investors have recently modified their holdings of the business. Amundi boosted its holdings in Sunrun by 56.3% during the first quarter. Amundi now owns 3,300,626 shares of the energy company’s stock worth $44,798,000 after buying an additional 1,188,564 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Sunrun during the 2nd quarter worth approximately $4,210,000. EP Wealth Advisors LLC acquired a new position in Sunrun during the second quarter valued at approximately $1,960,000. Bank of New York Mellon Corp acquired a new position in Sunrun during the second quarter valued at approximately $18,120,000. Finally, Diversify Advisory Services LLC bought a new stake in Sunrun in the second quarter valued at approximately $8,254,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.