Sunrun (NASDAQ:RUN) Stock Price Up 9.4% – What’s Next?

Sunrun Inc. (NASDAQ:RUN)’s stock price shot up 9.4% on Friday . The stock traded as high as $9.36 and last traded at $9.30. 20,659,688 shares traded hands during mid-day trading, an increase of 91% from the average session volume of 10,816,135 shares. The stock had previously closed at $8.50.

Analysts Set New Price Targets

RUN has been the topic of a number of research analyst reports. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Thursday. Morgan Stanley reiterated an “equal weight” rating and set a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Barclays lowered their price objective on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group reduced their target price on Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Royal Bank of Canada lowered their price objective on Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has an average rating of “Hold” and an average target price of $14.82.

Sunrun Stock Performance

The firm has a market cap of $2.14 billion, a PE ratio of -5.15 and a beta of 2.66. The business has a 50-day simple moving average of $6.77 and a 200 day simple moving average of $9.01. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. Sunrun’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. Equities research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling

In other Sunrun news, Director Edward Harris Fenster bought 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the acquisition, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the transaction, the executive now directly owns 399,729 shares of the company’s stock, valued at approximately $2,694,173.46. The trade was a 4.62 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,540 shares of company stock worth $1,050,944. 3.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Wilmington Savings Fund Society FSB bought a new position in Sunrun during the 3rd quarter valued at about $44,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun in the fourth quarter worth approximately $29,000. Newbridge Financial Services Group Inc. lifted its stake in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares during the last quarter. Summit Securities Group LLC purchased a new position in Sunrun during the 4th quarter valued at $53,000. Finally, Union Bancaire Privee UBP SA bought a new position in Sunrun in the 4th quarter valued at $56,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.