Sunrun (NASDAQ:RUN) Stock Price Up 2.8%

Sunrun Inc. (NASDAQ:RUN)’s stock price rose 2.8% during trading on Wednesday . The stock traded as high as $10.70 and last traded at $10.62. Approximately 989,334 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 14,236,317 shares. The stock had previously closed at $10.33.

Analysts Set New Price Targets

RUN has been the topic of several research reports. Piper Sandler cut their price objective on Sunrun from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Susquehanna reissued a “positive” rating and issued a $25.00 price objective on shares of Sunrun in a research report on Friday, April 5th. Mizuho raised their price objective on Sunrun from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. The Goldman Sachs Group raised their target price on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, BMO Capital Markets raised their target price on Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and an average target price of $21.53.

Sunrun Price Performance

The stock has a 50 day moving average of $12.47 and a 200 day moving average of $13.17. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The firm had revenue of $516.59 million during the quarter, compared to analyst estimates of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. On average, analysts predict that Sunrun Inc. will post -1.69 EPS for the current year.

Insider Buying and Selling

In related news, Director Edward Harris Fenster sold 172,920 shares of Sunrun stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the transaction, the director now directly owns 1,261,317 shares in the company, valued at $15,072,738.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 4,830 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $58,539.60. Following the transaction, the director now owns 1,403,915 shares of the company’s stock, valued at $17,015,449.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the transaction, the director now directly owns 1,261,317 shares in the company, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 301,760 shares of company stock worth $3,615,990. Corporate insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of large investors have recently bought and sold shares of RUN. Moneta Group Investment Advisors LLC lifted its holdings in Sunrun by 99,711.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,455,287 shares of the energy company’s stock worth $251,136,000 after acquiring an additional 10,444,812 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Sunrun by 35.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,182,106 shares of the energy company’s stock worth $178,127,000 after acquiring an additional 3,748,696 shares during the last quarter. Norges Bank bought a new position in Sunrun in the fourth quarter worth about $36,589,000. Deutsche Bank AG lifted its holdings in Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after acquiring an additional 1,180,823 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Sunrun by 42.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,860,637 shares of the energy company’s stock worth $77,780,000 after acquiring an additional 1,147,262 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.