Sunrun (NASDAQ:RUN) Trading 7.4% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RUN shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group restated a “buy” rating and issued a $20.00 price objective on shares of Sunrun in a research note on Wednesday, September 25th. Truist Financial restated a “hold” rating and issued a $18.00 price objective (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group cut their target price on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $22.70.

Sunrun Price Performance

The company’s fifty day simple moving average is $17.33 and its 200-day simple moving average is $15.36. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The stock has a market cap of $3.58 billion, a P/E ratio of -2.54 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted 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. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.17 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Danny Abajian sold 2,141 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $39,030.43. Following the completion of the sale, the chief financial officer now directly owns 276,119 shares in the company, valued at approximately $5,033,649.37. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,001 shares of company stock valued at $3,220,345. 3.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in Sunrun by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after acquiring an additional 691 shares during the last quarter. Creative Planning lifted its position in Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock valued at $5,242,000 after purchasing an additional 784 shares during the period. Van ECK Associates Corp lifted its position in Sunrun by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after purchasing an additional 886 shares during the period. Crossmark Global Holdings Inc. lifted its position in Sunrun by 6.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares during the period. Finally, &PARTNERS lifted its position in Sunrun by 1.6% during the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock valued at $698,000 after purchasing an additional 1,019 shares during the period. Institutional investors own 91.69% of the company’s stock.

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.