Sunrun (NASDAQ:RUN) Trading Up 4.9% – Here’s Why

Sunrun Inc. (NASDAQ:RUN) traded up 4.9% during trading on Thursday . The company traded as high as $9.68 and last traded at $9.60. 2,636,835 shares were traded during trading, a decline of 77% from the average session volume of 11,639,706 shares. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RUN. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Glj Research reiterated a “sell” rating and issued a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. TD Cowen initiated coverage on Sunrun in a report on Thursday. They issued a “buy” rating and a $21.00 target price on the stock. Oppenheimer cut their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Sunrun presently has an average rating of “Hold” and an average target price of $19.21.

Sunrun Price Performance

The company’s 50 day simple moving average is $12.22 and its two-hundred day simple moving average is $15.16. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock has a market capitalization of $2.05 billion, a P/E ratio of -5.03 and a beta of 2.54.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 4,017 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $65,677.95. Following the completion of the sale, the executive now owns 423,866 shares in the company, valued at $6,930,209.10. The trade was a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeanna Steele sold 2,624 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $42,902.40. Following the completion of the transaction, the insider now owns 305,636 shares in the company, valued at approximately $4,997,148.60. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,691 shares of company stock valued at $1,540,601 in the last three months. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC lifted its stake in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. SG Americas Securities LLC grew its position in shares of Sunrun by 202.3% during the 2nd quarter. SG Americas Securities LLC now owns 38,749 shares of the energy company’s stock worth $460,000 after buying an additional 25,931 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Sunrun by 405.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 60,872 shares of the energy company’s stock valued at $722,000 after acquiring an additional 48,827 shares during the last quarter. &PARTNERS raised its position in shares of Sunrun by 1.6% in the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after acquiring an additional 1,019 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Sunrun by 3.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 111,500 shares of the energy company’s stock valued at $1,322,000 after acquiring an additional 3,700 shares during the period. 91.69% of the stock is owned by institutional investors.

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.