Sunrun (NASDAQ:RUN) Shares Up 8.1% – Still a Buy?

Sunrun Inc. (NASDAQ:RUN)’s stock price rose 8.1% on Monday. The stock traded as high as $7.94 and last traded at $8.0870. Approximately 1,576,168 shares traded hands during trading, a decline of 83% from the average daily volume of 9,180,251 shares. The stock had previously closed at $7.48.

Analyst Upgrades and Downgrades

RUN has been the subject of several research analyst reports. Susquehanna reduced their price objective on Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a report on Wednesday, October 14th. Weiss Ratings upgraded shares of Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Jefferies Financial Group restated a “hold” rating and issued a $7.00 price target on shares of Sunrun in a report on Friday, October 9th. Royal Bank Of Canada cut their target price on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Morgan Stanley dropped their price target on Sunrun from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.39.

Sunrun Stock Up 9.6%

The company has a market capitalization of $1.97 billion, a PE ratio of 5.52 and a beta of 2.44. The business has a fifty day moving average of $8.12 and a 200 day moving average of $12.48. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The business had revenue of $869.99 million during the quarter, compared to analysts’ expectations of $746.87 million. During the same period in the prior year, the firm posted $1.07 EPS. The business’s quarterly revenue was up 52.8% compared to the same quarter last year. Equities research analysts anticipate that Sunrun Inc. will post 1.46 EPS for the current year.

Insider Activity

In other Sunrun news, CFO Danny Abajian sold 16,734 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $129,855.84. Following the sale, the chief financial officer owned 386,532 shares of the company’s stock, valued at approximately $2,999,488.32. This represents a 4.15% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 15,837 shares of Sunrun stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total transaction of $122,895.12. Following the transaction, the executive owned 823,702 shares of the company’s stock, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 68,719 shares of company stock worth $533,277 over the last quarter. Insiders own 3.55% of the company’s stock.

Institutional Trading of Sunrun

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Sunrun by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,519,053 shares of the energy company’s stock worth $88,375,000 after acquiring an additional 165,196 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Sunrun by 23.1% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 3,694,548 shares of the energy company’s stock worth $49,433,000 after purchasing an additional 692,448 shares during the period. Amundi grew its stake in shares of Sunrun by 3.9% in the second quarter. Amundi now owns 3,428,504 shares of the energy company’s stock valued at $45,845,000 after buying an additional 127,878 shares in the last quarter. Robeco Schweiz AG raised its stake in shares of Sunrun by 28.5% during the third quarter. Robeco Schweiz AG now owns 5,478,228 shares of the energy company’s stock valued at $42,566,000 after purchasing an additional 1,214,548 shares during the period. Finally, Bank of America Corp DE acquired a new position in Sunrun in the 2nd quarter worth $29,953,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.