Sunrun (NASDAQ:RUN) Trading Up 7.3%

Sunrun Inc. (NASDAQ:RUN) traded up 7.3% during mid-day trading on Tuesday . The stock traded as high as $10.89 and last traded at $10.78. 2,531,881 shares were traded during trading, a decline of 82% from the average session volume of 14,115,180 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RUN. Piper Sandler cut their target price on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. BMO Capital Markets upped their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group increased their price target on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Truist Financial reiterated a “hold” rating and issued a $14.00 price target (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and an average price target of $21.26.

Sunrun Stock Down 2.4 %

The firm has a fifty day simple moving average of $12.12 and a 200-day simple moving average of $13.20. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -1.36 and a beta of 2.46. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. The business had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million. As a group, sell-side analysts expect that Sunrun Inc. will post -1.74 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the sale, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary Powell sold 22,549 shares of Sunrun stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the sale, the chief executive officer now directly owns 379,768 shares of the company’s stock, valued at approximately $4,583,799.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,760 shares of company stock valued at $3,615,990. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RUN. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Sunrun by 35.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock worth $178,127,000 after purchasing an additional 3,748,696 shares during the period. Norges Bank bought a new position in shares of Sunrun in the fourth quarter worth $23,186,000. Deutsche Bank AG increased its position in shares of Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after purchasing an additional 1,180,823 shares during the period. Greenvale Capital LLP increased its position in shares of Sunrun by 15.3% in the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after purchasing an additional 1,100,000 shares during the period. Finally, Masters Capital Management LLC bought a new position in shares of Sunrun in the fourth quarter worth $19,630,000. Institutional investors own 91.69% of the company’s stock.

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.