Sunrun (NASDAQ:RUN) Stock Price Up 8.1% – Should You Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) rose 8.1% during trading on Thursday . The stock traded as high as $18.50 and last traded at $18.4650. Approximately 3,539,169 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 14,398,127 shares. The stock had previously closed at $17.08.

Wall Street Analyst Weigh In

RUN has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sunrun in a report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Sunrun from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

Sunrun Stock Up 0.7%

The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The firm has a market capitalization of $4.24 billion, a PE ratio of -1.63 and a beta of 2.35. The business’s fifty day moving average price is $19.10 and its 200 day moving average price is $14.91.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) EPS. On average, equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.31, for a total transaction of $965,500.00. Following the completion of the sale, the director directly owned 850,482 shares of the company’s stock, valued at $16,422,807.42. The trade was a 5.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary Powell sold 11,699 shares of the company’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $19.34, for a total value of $226,258.66. Following the sale, the chief executive officer owned 876,590 shares of the company’s stock, valued at $16,953,250.60. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 412,749 shares of company stock valued at $7,923,416 over the last 90 days. 3.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently added to or reduced their stakes in the business. Sycomore Asset Management acquired a new position in shares of Sunrun during the 3rd quarter valued at $28,000. Optiver Holding B.V. acquired a new position in Sunrun during the third quarter worth about $31,000. Smartleaf Asset Management LLC raised its position in Sunrun by 181.0% in the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after acquiring an additional 2,660 shares in the last quarter. Advisory Services Network LLC bought a new stake in Sunrun in the third quarter worth about $38,000. Finally, Resources Management Corp CT ADV lifted its holdings in Sunrun by 1,085.3% in the 3rd quarter. Resources Management Corp CT ADV now owns 2,252 shares of the energy company’s stock valued at $39,000 after acquiring an additional 2,062 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.