Sunrun (NASDAQ:RUN) Shares Gap Up – Here’s What Happened

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Monday . The stock had previously closed at $14.37, but opened at $15.34. Sunrun shares last traded at $15.67, with a volume of 2,046,292 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on RUN shares. Evercore ISI lowered their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BMO Capital Markets increased their price objective on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their price objective on shares of Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, September 27th. Finally, Glj Research upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and a consensus target price of $22.79.

Sunrun Price Performance

The stock’s 50 day simple moving average is $17.68 and its 200-day simple moving average is $15.27. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -2.12 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. During the same period in the prior year, the firm earned $0.25 EPS. The firm’s revenue was down 11.2% on a year-over-year basis. Equities research analysts anticipate that Sunrun Inc. will post -0.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total value of $40,360.92. Following the sale, the chief executive officer now owns 579,193 shares in the company, valued at $10,883,036.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mary Powell sold 2,148 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the transaction, the chief executive officer now owns 579,193 shares of the company’s stock, valued at $10,883,036.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,001 shares of company stock valued at $3,220,345. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Mirae Asset Global Investments Co. Ltd. increased its holdings in Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock valued at $3,199,000 after buying an additional 142,563 shares in the last quarter. Symmetry Investments LP acquired a new stake in shares of Sunrun during the 2nd quarter valued at about $1,205,000. State of Alaska Department of Revenue increased its stake in shares of Sunrun by 466.2% in the 1st quarter. State of Alaska Department of Revenue now owns 132,878 shares of the energy company’s stock valued at $1,751,000 after purchasing an additional 109,411 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in Sunrun in the 1st quarter worth about $171,000. Finally, Assenagon Asset Management S.A. boosted its position in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock worth $24,843,000 after purchasing an additional 927,947 shares in the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

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.