Sunrun (NASDAQ:RUN) Stock Price Up 7.2% – Still a Buy?

Sunrun Inc. (NASDAQ:RUN)’s share price rose 7.2% on Thursday . The stock traded as high as $10.04 and last traded at $9.92. Approximately 2,203,485 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 11,560,361 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group dropped their price target on Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 26th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. The Goldman Sachs Group decreased their price target on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Glj Research reaffirmed a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Finally, Morgan Stanley lowered their target price on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has a consensus rating of “Hold” and an average price target of $19.21.

Sunrun Trading Up 10.2 %

The stock has a market cap of $2.29 billion, a P/E ratio of -5.60 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $14.85.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the sale, the director now owns 1,142,446 shares in the company, valued at approximately $16,679,711.60. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 4,869 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $79,608.15. Following the completion of the sale, the chief financial officer now directly owns 269,393 shares of the company’s stock, valued at approximately $4,404,575.55. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,691 shares of company stock valued at $2,011,601. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently made changes to their positions in the business. Erste Asset Management GmbH acquired a new stake in Sunrun during the third quarter worth about $76,152,000. Sylebra Capital LLC bought a new position in shares of Sunrun during the second quarter valued at $35,387,000. Greenvale Capital LLP grew its holdings in shares of Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. FMR LLC grew its holdings in shares of Sunrun by 83.6% in the 3rd quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after purchasing an additional 1,562,163 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Sunrun by 113.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.