Sunrun (NASDAQ:RUN) Stock Price Up 6.7%

Sunrun Inc. (NASDAQ:RUN)’s stock price shot up 6.7% during mid-day trading on Monday . The stock traded as high as $11.10 and last traded at $10.98. 1,750,371 shares traded hands during trading, a decline of 87% from the average session volume of 13,938,393 shares. The stock had previously closed at $10.29.

Wall Street Analyst Weigh In

A number of research firms recently commented on RUN. BMO Capital Markets lifted their price objective on Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research report on Thursday, February 22nd. Mizuho decreased their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday, April 19th. The Goldman Sachs Group boosted their target price on Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Piper Sandler reduced their price target on Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Finally, Oppenheimer reissued an “outperform” rating and set a $19.00 price target on shares of Sunrun in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.26.

Sunrun Stock Performance

The stock has a market capitalization of $2.40 billion, a P/E ratio of -1.48 and a beta of 2.46. The stock has a 50 day moving average of $11.72 and a 200 day moving average of $13.16. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The company had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. Equities analysts predict that Sunrun Inc. will post -1.69 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares in the company, valued at $15,072,738.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $9.73 per share, with a total value of $97,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $97,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now directly owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RUN. SG Americas Securities LLC acquired a new position in Sunrun in the 3rd quarter worth about $600,000. Hexagon Capital Partners LLC increased its position in Sunrun by 69.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock worth $42,000 after purchasing an additional 1,375 shares during the last quarter. Xponance Inc. increased its position in Sunrun by 15.8% in the 3rd quarter. Xponance Inc. now owns 30,143 shares of the energy company’s stock worth $379,000 after purchasing an additional 4,120 shares during the last quarter. Raymond James & Associates increased its position in Sunrun by 45.7% in the 3rd quarter. Raymond James & Associates now owns 126,750 shares of the energy company’s stock worth $1,592,000 after purchasing an additional 39,732 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in Sunrun by 18.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 12,794 shares of the energy company’s stock worth $161,000 after purchasing an additional 1,970 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile

Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.