Sunrun (NASDAQ:RUN) Trading Up 12.6% – Here’s Why

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 12.6% during trading on Thursday . The stock traded as high as $19.51 and last traded at $20.0690. 3,988,725 shares traded hands during mid-day trading, a decline of 44% from the average session volume of 7,112,032 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sunrun in a report on Thursday. Morgan Stanley raised their target price on Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 2nd. UBS Group upped their price target on Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Susquehanna increased their price target on shares of Sunrun from $13.00 to $23.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Finally, Raymond James Financial assumed coverage on shares of Sunrun in a research report on Monday, January 12th. They set a “market perform” rating for the company. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Sunrun Stock Performance

The company has a market cap of $4.53 billion, a PE ratio of -1.75 and a beta of 2.35. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46. The stock’s 50-day simple moving average is $18.54 and its 200 day simple moving average is $16.74.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The business’s revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.37) earnings per share. As a group, equities analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling at Sunrun

In other Sunrun news, CEO Mary Powell sold 8,754 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total value of $155,821.20. Following the completion of the transaction, the chief executive officer owned 864,946 shares in the company, valued at approximately $15,396,038.80. This represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 7,190 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total value of $127,982.00. Following the completion of the sale, the chief financial officer directly owned 405,518 shares of the company’s stock, valued at approximately $7,218,220.40. This trade represents a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 354,956 shares of company stock worth $6,725,832. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Sunrun by 3.5% in the third quarter. GAMMA Investing LLC now owns 17,971 shares of the energy company’s stock valued at $311,000 after purchasing an additional 607 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in Sunrun by 1.9% in the 3rd quarter. Crestwood Advisors Group LLC now owns 35,158 shares of the energy company’s stock valued at $608,000 after buying an additional 644 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in Sunrun by 2.7% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 30,771 shares of the energy company’s stock valued at $532,000 after buying an additional 800 shares during the last quarter. Farther Finance Advisors LLC increased its position in Sunrun by 156.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Sunrun by 5.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 18,809 shares of the energy company’s stock worth $325,000 after acquiring an additional 967 shares during the last quarter. Hedge funds and other institutional investors 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.