Sunrun (NASDAQ:RUN) Stock Price Up 12.6% – Time to Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) shot up 12.6% on Thursday . The stock traded as high as $19.51 and last traded at $20.0690. 3,988,725 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 7,112,032 shares. The stock had previously closed at $17.82.

Analysts Set New Price Targets

RUN has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Raymond James Financial initiated coverage on shares of Sunrun in a research note on Monday, January 12th. They issued a “market perform” rating on the stock. Oppenheimer upped their target price on shares of Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 9th. BMO Capital Markets set a $19.00 price target on shares of Sunrun and gave the company a “market perform” rating in a report on Wednesday, October 15th. Finally, UBS Group boosted their price target on shares of Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sunrun currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Sunrun Trading Up 5.3%

The business’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $16.67. The company has a debt-to-equity ratio of 3.67, a quick ratio of 1.06 and a current ratio of 1.46. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -1.68 and a beta of 2.35.

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

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $19.57, for a total value of $978,500.00. Following the transaction, the director directly owned 751,626 shares in the company, valued at $14,709,320.82. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Paul S. Dickson sold 6,119 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $108,918.20. Following the completion of the transaction, the executive directly owned 639,110 shares in the company, valued at $11,376,158. The trade was a 0.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,956 shares of company stock worth $6,725,832 in the last three months. 3.37% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sycomore Asset Management acquired a new position in shares of Sunrun during the 3rd quarter worth approximately $28,000. Optiver Holding B.V. acquired a new position in Sunrun in the 3rd quarter valued at $31,000. Smartleaf Asset Management LLC raised its holdings in Sunrun by 181.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after acquiring an additional 2,660 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Sunrun during the 3rd quarter valued at $38,000. Finally, Resources Management Corp CT ADV grew its holdings in shares of Sunrun by 1,085.3% during the 3rd quarter. Resources Management Corp CT ADV now owns 2,252 shares of the energy company’s stock worth $39,000 after purchasing an additional 2,062 shares in 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.