Sunrun (NASDAQ:RUN) Shares Gap Up After Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN) shares gapped up prior to trading on Monday after Barclays raised their price target on the stock from $16.00 to $19.00. The stock had previously closed at $16.95, but opened at $18.00. Barclays currently has an equal weight rating on the stock. Sunrun shares last traded at $17.38, with a volume of 1,541,244 shares trading hands.

Several other research firms have also recently weighed in on RUN. Jefferies Financial Group lowered their price objective on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. JPMorgan Chase & Co. lifted their price target on Sunrun from $14.00 to $19.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Piper Sandler increased their price objective on Sunrun from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday. Susquehanna boosted their target price on Sunrun from $23.00 to $24.00 and gave the stock a “positive” rating in a research report on Monday, July 15th. Finally, Mizuho reduced their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.42.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $16.93, for a total value of $846,500.00. Following the sale, the director now directly owns 1,294,383 shares in the company, valued at approximately $21,913,904.19. The sale was disclosed in a filing with the SEC, which is available through this link. In other Sunrun news, Director Edward Harris Fenster sold 44,646 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $15.91, for a total value of $710,317.86. Following the completion of the sale, the director now directly owns 1,207,423 shares in the company, valued at $19,210,099.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the sale, the director now directly owns 1,294,383 shares in the company, valued at $21,913,904.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,712 shares of company stock worth $3,706,261. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

A number of hedge funds have recently modified their holdings of RUN. Canton Hathaway LLC purchased a new stake in shares of Sunrun in the second quarter worth $119,000. Nisa Investment Advisors LLC increased its stake in Sunrun by 405.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 60,872 shares of the energy company’s stock valued at $722,000 after purchasing an additional 48,827 shares in the last quarter. OFI Invest Asset Management increased its stake in Sunrun by 1,949.4% during the 2nd quarter. OFI Invest Asset Management now owns 11,149 shares of the energy company’s stock valued at $123,000 after purchasing an additional 10,605 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Sunrun in the second quarter worth about $5,309,000. Finally, Diversified Trust Co bought a new position in shares of Sunrun in the second quarter worth approximately $218,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 1.9 %

The stock has a market cap of $3.83 billion, a PE ratio of -2.59 and a beta of 2.61. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84. The stock’s fifty day moving average price is $13.73 and its 200 day moving average price is $13.09.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. The business had revenue of $458.20 million during the quarter, compared to analyst estimates of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The company’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.12) EPS. On average, sell-side analysts forecast that Sunrun Inc. will post -1.25 EPS for the current year.

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.