Sunrun (NASDAQ:RUN) Trading 4.4% Higher

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 4.4% during trading on Tuesday . The stock traded as high as $11.52 and last traded at $11.37. 2,635,351 shares changed hands during trading, a decline of 81% from the average session volume of 14,177,678 shares. The stock had previously closed at $10.89.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RUN shares. Mizuho increased their price target on shares of Sunrun from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Jefferies Financial Group started coverage on shares of Sunrun in a research note on Friday, December 15th. They issued a “buy” rating and a $25.00 price target for the company. Royal Bank of Canada decreased their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Truist Financial reissued a “hold” rating and issued a $14.00 price target (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Finally, BMO Capital Markets increased their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.85.

Sunrun Stock Performance

The firm has a market cap of $2.89 billion, a PE ratio of -1.78 and a beta of 2.45. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 1.68. The firm’s 50 day simple moving average is $13.25 and its 200 day simple moving average is $13.36.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The business had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. On average, research analysts forecast that Sunrun Inc. will post -1.99 EPS for the current fiscal year.

Insider Activity at Sunrun

In related news, Director Edward Harris Fenster sold 170,311 shares of the stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $20.17, for a total transaction of $3,435,172.87. Following the completion of the sale, the director now owns 1,203,673 shares of the company’s stock, valued at $24,278,084.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Alan Ferber purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $97,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward Harris Fenster sold 170,311 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $20.17, for a total transaction of $3,435,172.87. Following the transaction, the director now owns 1,203,673 shares in the company, valued at approximately $24,278,084.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 234,834 shares of company stock worth $4,211,750. Insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. Salem Investment Counselors Inc. grew its position in Sunrun by 3,750.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after buying an additional 1,500 shares during the period. Fifth Third Bancorp grew its position in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the period. Versant Capital Management Inc grew its position in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after buying an additional 1,127 shares during the period. International Assets Investment Management LLC acquired a new stake in Sunrun during the third quarter valued at $26,000. Finally, Belpointe Asset Management LLC grew its position in Sunrun by 735.2% during the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after buying an additional 1,860 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

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.