Sunrun (NASDAQ:RUN) Trading Up 9.5% – Still a Buy?

Sunrun Inc. (NASDAQ:RUN)’s stock price shot up 9.5% during mid-day trading on Monday . The company traded as high as $11.56 and last traded at $11.51. 8,027,695 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 11,965,199 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on RUN shares. Glj Research reiterated a “sell” rating and set a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. Morgan Stanley reduced their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Susquehanna decreased their price objective on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Piper Sandler cut Sunrun from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $11.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $19.49.

Sunrun Stock Up 9.6 %

The stock has a market capitalization of $2.58 billion, a P/E ratio of -6.33 and a beta of 2.61. The firm’s 50-day simple moving average is $14.72 and its 200 day simple moving average is $15.41. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Insiders Place Their Bets

In related news, CRO Paul S. Dickson sold 2,537 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $18.23, for a total value of $46,249.51. Following the sale, the executive now owns 427,883 shares in the company, valued at approximately $7,800,307.09. This represents a 0.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary Powell sold 2,148 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the transaction, the chief executive officer now owns 579,193 shares in the company, valued at approximately $10,883,036.47. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after buying an additional 2,743,148 shares during the last quarter. Greenvale Capital LLP raised its stake in Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares in the last quarter. State Street Corp lifted its holdings in shares of Sunrun by 0.6% in the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after acquiring an additional 54,329 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Sunrun by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after purchasing an additional 30,549 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after purchasing an additional 729,633 shares during the last quarter. 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.