Sunrun (NASDAQ:RUN) Shares Gap Up to $11.52

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $11.52, but opened at $12.52. Sunrun shares last traded at $13.05, with a volume of 3,203,399 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RUN. Piper Sandler cut their price target on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Susquehanna dropped their price objective on Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research note on Thursday, May 9th. Janney Montgomery Scott lowered Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Oppenheimer reaffirmed an “outperform” rating and set a $19.00 price target on shares of Sunrun in a research report on Thursday, February 22nd. Finally, Mizuho decreased their price objective on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday, April 19th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.21.

Sunrun Stock Performance

The company has a current ratio of 1.31, a quick ratio of 0.99 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $2.68 billion, a P/E ratio of -1.81 and a beta of 2.50. The company’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $13.23.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company had revenue of $458.20 million during the quarter, compared to the consensus estimate of $471.38 million. During the same period in the previous year, the firm posted ($1.12) EPS. The firm’s revenue was down 22.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun Inc. will post -1.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Alan Ferber acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Lynn Michelle Jurich sold 4,830 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total transaction of $58,539.60. Following the transaction, the director now owns 1,403,915 shares in the company, valued at $17,015,449.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Ferber purchased 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $97,300. The disclosure for this purchase can be found here. Insiders have sold a total of 301,760 shares of company stock worth $3,615,990 in the last 90 days. 3.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the period. Retirement Systems of Alabama boosted its stake in Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after acquiring an additional 833 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after acquiring an additional 910 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after acquiring an additional 938 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Sunrun by 18.7% during the first quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after acquiring an additional 1,010 shares in the last quarter. Hedge funds and other 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.