Sunrun (NASDAQ:RUN) Shares Gap Up – Should You Buy?

Sunrun Inc. (NASDAQ:RUN) gapped up before the market opened on Wednesday . The stock had previously closed at $18.47, but opened at $19.80. Sunrun shares last traded at $20.19, with a volume of 2,446,204 shares.

Analyst Ratings Changes

RUN has been the topic of a number of recent analyst reports. Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Monday, November 10th. Morgan Stanley upped their price objective on shares of Sunrun from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. BMO Capital Markets set a $19.00 target price on shares of Sunrun and gave the company a “market perform” rating in a report on Wednesday, October 15th. Raymond James Financial assumed coverage on Sunrun in a research note on Monday, January 12th. They set a “market perform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Sunrun in a research report on Thursday, January 22nd. Thirteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.99.

Sunrun Stock Performance

The stock has a fifty day moving average of $18.70 and a 200-day moving average of $17.29. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67. The stock has a market capitalization of $4.63 billion, a PE ratio of -1.79 and a beta of 2.36.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The business had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. During the same quarter last year, the business posted ($0.37) EPS. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $19.57, for a total value of $978,500.00. Following the sale, the director directly owned 751,626 shares of the company’s stock, valued at approximately $14,709,320.82. This represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Danny Abajian sold 7,190 shares of Sunrun stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $127,982.00. Following the sale, the chief financial officer directly owned 405,518 shares of the company’s stock, valued at approximately $7,218,220.40. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 354,956 shares of company stock worth $6,634,832 over the last ninety days. 3.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Sunrun by 41.7% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 498,530 shares of the energy company’s stock worth $8,620,000 after buying an additional 146,588 shares during the period. Nisa Investment Advisors LLC raised its stake in Sunrun by 7,260.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 122,118 shares of the energy company’s stock valued at $999,000 after acquiring an additional 120,459 shares during the last quarter. Range Financial Group LLC acquired a new stake in Sunrun during the 3rd quarter worth approximately $1,403,000. Duff & Phelps Investment Management Co. grew its stake in shares of Sunrun by 47.3% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 51,807 shares of the energy company’s stock valued at $424,000 after purchasing an additional 16,643 shares during the last quarter. Finally, Lyell Wealth Management LP acquired a new position in shares of Sunrun in the second quarter valued at approximately $101,000. 91.69% of the stock is owned by institutional investors and hedge funds.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.