Sunrun (NASDAQ:RUN) Shares Gap Up to $17.20

Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Wednesday . The stock had previously closed at $17.20, but opened at $18.01. Sunrun shares last traded at $18.57, with a volume of 4,020,659 shares traded.

Analyst Upgrades and Downgrades

RUN has been the subject of a number of recent research reports. Piper Sandler increased their target price on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Thursday, August 8th. UBS Group upped their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays lifted their price target on shares of Sunrun from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.98.

Sunrun Stock Up 7.2 %

The company has a market cap of $4.12 billion, a price-to-earnings ratio of -2.77 and a beta of 2.59. The firm’s 50 day simple moving average is $17.63 and its 200 day simple moving average is $14.02. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. Sell-side analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 4,662 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.62, for a total value of $58,834.44. Following the completion of the sale, the chief financial officer now owns 283,098 shares of the company’s stock, valued at $3,572,696.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $12.11, for a total value of $605,500.00. Following the transaction, the director now owns 1,344,383 shares in the company, valued at approximately $16,280,478.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 4,662 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the completion of the sale, the chief financial officer now owns 283,098 shares of the company’s stock, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 174,029 shares of company stock worth $2,765,115. 3.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas purchased a new stake in shares of Sunrun during the 1st quarter worth about $37,000. Duncker Streett & Co. Inc. bought a new stake in shares of Sunrun in the 2nd quarter valued at approximately $36,000. Parallel Advisors LLC increased its holdings in Sunrun by 91.4% in the fourth quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock worth $62,000 after buying an additional 1,513 shares during the last quarter. Manchester Capital Management LLC raised its position in Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after acquiring an additional 938 shares in the last quarter. Finally, CWM LLC lifted its stake in Sunrun by 883.9% in the second quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.