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

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Tuesday . The stock had previously closed at $8.27, but opened at $8.60. Sunrun shares last traded at $8.39, with a volume of 2,852,434 shares.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets lowered Sunrun from a “hold” rating to a “strong sell” rating and dropped their price target for the stock from $9.00 to $4.00 in a research note on Thursday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Sunrun in a research note on Tuesday, June 3rd. Mizuho set a $13.00 price target on Sunrun and gave the stock an “outperform” rating in a research note on Monday, June 2nd. Susquehanna dropped their price target on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Finally, UBS Group dropped their price target on Sunrun from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Sunrun has an average rating of “Hold” and a consensus target price of $14.06.

Sunrun Price Performance

The firm has a fifty day moving average of $7.92 and a 200 day moving average of $8.53. The company has a market capitalization of $1.99 billion, a P/E ratio of -4.78 and a beta of 2.61. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.42. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same period last year, the company earned ($0.40) EPS. Sunrun’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling

In other news, Director Edward Harris Fenster purchased 50,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director now directly owns 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 9,942 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,993 shares of company stock worth $612,979. 3.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently made changes to their positions in the company. Focus Partners Wealth grew its stake in shares of Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after purchasing an additional 2,226 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Sunrun by 14.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company’s stock valued at $4,458,000 after buying an additional 98,547 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Sunrun during the 1st quarter valued at about $87,000. Caxton Associates LLP purchased a new position in shares of Sunrun during the 1st quarter valued at about $2,045,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company’s stock valued at $13,518,000 after buying an additional 718,955 shares in the last quarter. 91.69% of the stock is currently owned by 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.