Sunrun (NASDAQ:RUN) Stock Price Up 6.7% – Here’s Why

Shares of Sunrun Inc. (NASDAQ:RUN) were up 6.7% on Wednesday . The company traded as high as $9.71 and last traded at $9.88. Approximately 1,312,814 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 10,548,487 shares. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

RUN has been the subject of a number of analyst reports. Glj Research reaffirmed a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Roth Mkm reduced their price objective on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price for the company in a research note on Tuesday, January 7th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Finally, Susquehanna lowered their target price on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Sunrun Stock Down 0.8 %

The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The stock has a fifty day moving average price of $10.22 and a two-hundred day moving average price of $14.46. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -5.05 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, November 7th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business had revenue of $537.17 million during the quarter, compared to the consensus estimate of $560.60 million. During the same period in the prior year, the firm earned $0.40 EPS. As a group, sell-side analysts expect that Sunrun Inc. will post -0.41 EPS for the current year.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the sale, the director now owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. This represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,830 shares of company stock worth $1,614,147. Company insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of Sunrun in the 3rd quarter valued at about $76,152,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Sunrun by 113.5% in the third 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 buying an additional 1,337,302 shares during the period. Aigen Investment Management LP bought a new position in shares of Sunrun during the third quarter worth about $955,000. Finally, Assenagon Asset Management S.A. raised its position in shares of 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 acquiring an additional 927,947 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.