Sunrun (NASDAQ:RUN) Trading 7.4% Higher – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 7.4% on Monday . The stock traded as high as $15.85 and last traded at $15.85. 1,471,381 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 11,720,341 shares. The stock had previously closed at $14.76.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Truist Financial reiterated a “hold” rating and issued a $18.00 price objective (up from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Evercore ISI cut their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Susquehanna cut their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group dropped their price target on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $22.70.

Sunrun Stock Performance

The firm’s 50-day moving average price is $17.33 and its two-hundred day moving average price is $15.36. The firm has a market capitalization of $3.58 billion, a PE ratio of -2.54 and a beta of 2.61. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last released its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The business had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, research analysts predict that Sunrun Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Danny Abajian sold 2,141 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $39,030.43. Following the transaction, the chief financial officer now directly owns 276,119 shares in the company, valued at $5,033,649.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,001 shares of company stock valued at $3,220,345 over the last ninety days. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares during the last quarter. Blue Trust Inc. lifted its stake in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the last quarter. BNP Paribas acquired a new stake in Sunrun in the first quarter valued at approximately $37,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Sunrun in the second quarter worth $36,000. Finally, CWM LLC lifted its stake in shares of Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after buying an additional 3,014 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.