Sunrun (NASDAQ:RUN) Shares Gap Up – Time to Buy?

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

RUN has been the subject of several research analyst reports. Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Morgan Stanley decreased their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target on the stock in a research report on Tuesday. Finally, BMO Capital Markets dropped their price objective on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.16.

Sunrun Trading Down 5.5 %

The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The company has a 50-day moving average price of $10.86 and a 200-day moving average price of $14.78. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -5.91 and a beta of 2.58.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 3,734 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares of the company’s stock, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,830 shares of company stock valued at $1,864,647 in the last 90 days. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in RUN. Victory Capital Management Inc. increased its stake in Sunrun by 1.5% in the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares during the period. Creative Planning lifted its position in shares of Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after buying an additional 784 shares during the period. Van ECK Associates Corp boosted its stake in Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after buying an additional 886 shares in the last quarter. United Services Automobile Association grew its position in Sunrun by 6.3% in the second quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock valued at $209,000 after acquiring an additional 1,042 shares during the period. Finally, Blue Trust Inc. raised its stake in Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares in the last quarter. Institutional investors and hedge funds 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.