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

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $8.86, but opened at $9.16. Sunrun shares last traded at $9.07, with a volume of 1,590,358 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RUN. BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday, January 7th. Morgan Stanley decreased their target price on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Truist Financial reissued a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. BMO Capital Markets cut their target price on Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Finally, Oppenheimer reduced their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

Sunrun Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $1.99 billion, a P/E ratio of -4.90 and a beta of 2.59. The company has a fifty day simple moving average of $9.54 and a two-hundred day simple moving average of $13.58.

Insider Transactions at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. The trade was a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 114,830 shares of company stock worth $1,117,147 in the last quarter. 3.77% of the stock is owned by company insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning increased 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 purchasing an additional 784 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Sunrun by 1.8% in the third 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. CIBC Asset Management Inc increased its holdings in Sunrun by 5.8% during the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock worth $229,000 after buying an additional 1,360 shares during the last quarter. Blue Trust Inc. raised its position 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. Finally, International Assets Investment Management LLC lifted its stake in Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares during the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

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.