Sunrun (NASDAQ:RUN) Shares Gap Up – What’s Next?

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up before the market opened on Tuesday . The stock had previously closed at $13.48, but opened at $14.13. Sunrun shares last traded at $14.0790, with a volume of 2,537,912 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RUN. TD Cowen lowered their price objective on shares of Sunrun from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Citigroup decreased their target price on Sunrun from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $18.00 price target on shares of Sunrun in a report on Thursday, May 7th. Finally, Weiss Ratings raised Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.98.

Sunrun Trading Down 2.0%

The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 6.15 and a beta of 2.32. The company’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $15.50.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a net margin of 17.88% and a return on equity of 14.06%. The company had revenue of $722.23 million during the quarter, compared to analyst estimates of $688.50 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. Research analysts expect that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $13.61, for a total transaction of $680,500.00. Following the completion of the sale, the director owned 409,091 shares of the company’s stock, valued at approximately $5,567,728.51. This trade represents a 10.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Danny Abajian sold 2,030 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $13.39, for a total value of $27,181.70. Following the completion of the transaction, the chief financial officer directly owned 438,781 shares in the company, valued at approximately $5,875,277.59. The trade was a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 694,816 shares of company stock valued at $9,343,473. 3.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Farther Finance Advisors LLC lifted its stake in Sunrun by 156.9% in the fourth quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after acquiring an additional 885 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sunrun during the 4th quarter worth $27,000. Sycomore Asset Management bought a new position in shares of Sunrun during the 3rd quarter valued at $28,000. Hantz Financial Services Inc. raised its holdings in shares of Sunrun by 59.1% during the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after purchasing an additional 564 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Sunrun in the 4th quarter valued at $30,000. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.