Sunrun (NASDAQ:RUN) Shares Up 7.3%

Sunrun Inc. (NASDAQ:RUN)’s stock price shot up 7.3% during trading on Tuesday . The stock traded as high as $10.89 and last traded at $10.78. 2,531,881 shares were traded during trading, a decline of 82% from the average session volume of 14,115,180 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

RUN has been the subject of several research reports. Mizuho reduced their target price on Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets boosted their price target on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, February 22nd. Piper Sandler reduced their target price on Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Truist Financial reiterated a “hold” rating and set a $14.00 price target (down from $15.00) on shares of Sunrun in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Stock Performance

The stock has a market capitalization of $2.29 billion, a P/E ratio of -1.49 and a beta of 2.46. The firm has a 50-day moving average of $12.22 and a 200 day moving average of $13.20. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The firm had revenue of $516.59 million during the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. Research analysts anticipate that Sunrun Inc. will post -1.74 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $12.12, for a total transaction of $58,539.60. Following the sale, the director now owns 1,403,915 shares of the company’s stock, valued at $17,015,449.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.12, for a total value of $58,539.60. Following the sale, the director now owns 1,403,915 shares in the company, valued at $17,015,449.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the sale, the director now owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The disclosure for this sale can be found here. Insiders have sold a total of 301,760 shares of company stock valued at $3,615,990 over the last three months. 3.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Sunrun in the third quarter worth about $600,000. Hexagon Capital Partners LLC raised its holdings in Sunrun by 69.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,345 shares of the energy company’s stock valued at $42,000 after acquiring an additional 1,375 shares during the period. Xponance Inc. lifted its position in shares of Sunrun by 15.8% during the third quarter. Xponance Inc. now owns 30,143 shares of the energy company’s stock worth $379,000 after acquiring an additional 4,120 shares in the last quarter. Raymond James & Associates grew its position in shares of Sunrun by 45.7% in the third quarter. Raymond James & Associates now owns 126,750 shares of the energy company’s stock valued at $1,592,000 after purchasing an additional 39,732 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Sunrun by 18.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 12,794 shares of the energy company’s stock valued at $161,000 after purchasing an additional 1,970 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

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.