Sunrun (NASDAQ:RUN) Trading 5.8% Higher – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN) shares shot up 5.8% on Tuesday . The stock traded as high as $19.24 and last traded at $19.6560. 3,376,987 shares changed hands during trading, a decline of 78% from the average session volume of 15,160,399 shares. The stock had previously closed at $18.57.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer boosted their price target on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. The Goldman Sachs Group boosted their target price on Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $20.00 price target on Sunrun in a report on Thursday, October 16th. Susquehanna upped their price objective on Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Finally, Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $19.16.

Sunrun Price Performance

The firm has a market cap of $4.60 billion, a P/E ratio of -1.70 and a beta of 2.35. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The stock’s 50-day simple moving average is $18.70 and its two-hundred day simple moving average is $13.41.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. During the same period in the prior year, the company posted ($0.37) EPS. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Paul S. Dickson sold 25,614 shares of Sunrun stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $20.00, for a total transaction of $512,280.00. Following the completion of the sale, the executive owned 655,734 shares of the company’s stock, valued at approximately $13,114,680. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Danny Abajian sold 9,055 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the transaction, the chief financial officer owned 424,606 shares in the company, valued at $8,216,126.10. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 288,612 shares of company stock worth $5,546,319. 3.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently bought and sold shares of RUN. PGGM Investments lifted its position in Sunrun by 316.6% during the second quarter. PGGM Investments now owns 7,007,258 shares of the energy company’s stock valued at $57,319,000 after acquiring an additional 5,325,332 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Sunrun by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 711,391 shares of the energy company’s stock worth $4,169,000 after acquiring an additional 151,474 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Sunrun by 25.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,500,000 shares of the energy company’s stock worth $14,650,000 after acquiring an additional 500,000 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Sunrun by 11.3% in the 1st quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 28,395 shares during the last quarter. Finally, Quantitative Investment Management LLC grew its position in Sunrun by 169.5% during the 1st quarter. Quantitative Investment Management LLC now owns 571,479 shares of the energy company’s stock worth $3,348,000 after purchasing an additional 359,463 shares during the last quarter. Institutional investors 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.