Sunrun (NASDAQ:RUN) Shares Gap Up to $10.95

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.95, but opened at $11.34. Sunrun shares last traded at $11.30, with a volume of 560,375 shares changing hands.

Analyst Upgrades and Downgrades

RUN has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Susquehanna reduced their target price on Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a report on Thursday, May 9th. Jefferies Financial Group dropped their price target on Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Royal Bank of Canada dropped their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, Mizuho dropped their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.47.

Sunrun Price Performance

The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -1.73 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The company has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $13.49.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. The firm had revenue of $458.20 million during the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The company’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.12) EPS. As a group, equities research analysts expect that Sunrun Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $12.11, for a total transaction of $605,500.00. Following the completion of the transaction, the director now owns 1,344,383 shares of the company’s stock, valued at approximately $16,280,478.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sunrun news, Director Edward Harris Fenster sold 44,646 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $15.91, for a total value of $710,317.86. Following the completion of the transaction, the director now owns 1,207,423 shares of the company’s stock, valued at approximately $19,210,099.93. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $12.11, for a total value of $605,500.00. Following the completion of the transaction, the director now directly owns 1,344,383 shares of the company’s stock, valued at approximately $16,280,478.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,143 shares of company stock valued at $5,502,579. Corporate insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in RUN. Vanguard Group Inc. grew its position in shares of Sunrun by 14.0% in the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after buying an additional 2,743,148 shares during the last quarter. Norges Bank bought a new stake in shares of Sunrun during the 4th quarter valued at about $23,186,000. Deutsche Bank AG boosted its position in shares of Sunrun by 112.9% during the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after purchasing an additional 1,180,823 shares in the last quarter. Greenvale Capital LLP boosted its position in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after purchasing an additional 1,100,000 shares in the last quarter. Finally, Masters Capital Management LLC bought a new stake in shares of Sunrun during the 4th quarter valued at about $19,630,000. Institutional investors own 91.69% of the company’s stock.

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.