Sunrun (NASDAQ:RUN) Trading Up 3.6% After Insider Buying Activity

Sunrun Inc. (NASDAQ:RUN)’s stock price was up 3.6% during trading on Tuesday following insider buying activity. The company traded as high as $6.52 and last traded at $6.39. Approximately 6,892,974 shares changed hands during trading, a decline of 35% from the average daily volume of 10,530,125 shares. The stock had previously closed at $6.17.

Specifically, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction on Monday, March 3rd. The stock was purchased at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the transaction, the director now owns 1,358,182 shares of the company’s stock, valued at $9,235,637.60. This trade represents a 12.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

RUN has been the topic of several analyst reports. Roth Mkm decreased their target price on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Oppenheimer lowered their price objective on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target on the stock in a report on Tuesday, January 7th. Finally, Truist Financial reiterated a “hold” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a report on Monday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.61.

Sunrun Stock Performance

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The business’s 50-day moving average is $9.20 and its 200-day moving average is $12.94. The company has a market capitalization of $1.51 billion, a PE ratio of -3.64 and a beta of 2.59.

Hedge Funds Weigh In On Sunrun

Several large investors have recently made changes to their positions in the business. Sylebra Capital LLC grew its stake in shares of Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sunrun by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after acquiring an additional 52,176 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Sunrun by 76.9% during the fourth quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock valued at $187,000 after acquiring an additional 8,792 shares in the last quarter. Teza Capital Management LLC raised its position in shares of Sunrun by 12.9% in the 4th quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock worth $413,000 after purchasing an additional 5,121 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Sunrun in the 4th quarter worth about $2,363,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.