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

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $14.37, but opened at $15.34. Sunrun shares last traded at $15.67, with a volume of 2,046,292 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on RUN. Barclays cut their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. UBS Group raised their target price on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Truist Financial reaffirmed a “hold” rating and set a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Finally, BMO Capital Markets boosted their target price on shares of Sunrun from $17.00 to $20.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus price target of $22.79.

Sunrun Stock Up 7.5 %

The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The stock has a 50-day simple moving average of $17.90 and a 200-day simple moving average of $15.24. The firm has a market capitalization of $3.45 billion, a PE ratio of -2.45 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company’s revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Analysts forecast that Sunrun Inc. will post -0.17 EPS for the current year.

Insider Activity

In other news, insider Jeanna Steele sold 24,161 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total value of $464,857.64. Following the sale, the insider now directly owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Lynn Michelle Jurich sold 1,937 shares of Sunrun stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the completion of the sale, the director now owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeanna Steele sold 24,161 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total value of $464,857.64. Following the completion of the transaction, the insider now owns 310,617 shares of the company’s stock, valued at $5,976,271.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,001 shares of company stock worth $3,220,345. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

A number of hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Sunrun by 1,706.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares in the last quarter. Blue Trust Inc. boosted its position in Sunrun by 385.5% during the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares in the last quarter. BNP Paribas purchased a new position in shares of Sunrun during the 1st quarter worth approximately $37,000. Duncker Streett & Co. Inc. bought a new position in shares of Sunrun in the 2nd quarter worth approximately $36,000. Finally, CWM LLC lifted its stake in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after purchasing an additional 3,014 shares during the period. 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.