Sunrun (NASDAQ:RUN) Shares Gap Up – Still a Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Tuesday . The stock had previously closed at $10.97, but opened at $11.35. Sunrun shares last traded at $11.81, with a volume of 1,881,660 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RUN. UBS Group dropped their price objective on Sunrun from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of Sunrun from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Oppenheimer decreased their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Susquehanna dropped their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Finally, Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.31.

Sunrun Price Performance

The business has a 50 day moving average price of $10.98 and a 200-day moving average price of $14.82. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.34 and a beta of 2.58. 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 other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the transaction, the director now owns 1,041,753 shares of the company’s stock, valued at $9,813,313.26. This represents a 4.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 151,766 shares of company stock worth $1,718,592. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Greenvale Capital LLP raised its position in shares of 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 purchasing an additional 2,000,000 shares during the period. State Street Corp raised its holdings in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after buying an additional 54,329 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Sunrun by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock valued at $96,019,000 after buying an additional 30,549 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sunrun by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Sunrun during the third quarter worth about $76,152,000. 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.