Sunrun (NASDAQ:RUN) Shares Gap Up to $10.95

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.95, but opened at $11.34. Sunrun shares last traded at $11.30, with a volume of 560,375 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Sunrun from $24.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Susquehanna decreased their price target on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research note on Thursday, May 9th. Jefferies Financial Group decreased their price target on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Mizuho decreased their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Royal Bank of Canada decreased their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.47.

Sunrun Stock Up 7.5 %

The company’s fifty day simple moving average is $12.51 and its 200-day simple moving average is $13.49. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The firm has a market capitalization of $2.61 billion, a PE ratio of -1.73 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.09. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the previous year, the company earned ($1.12) earnings per share. On average, analysts forecast that Sunrun Inc. will post -1.27 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 1,741 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $14.86, for a total transaction of $25,871.26. Following the sale, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sunrun news, CEO Mary Powell sold 1,741 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the sale, the chief executive officer now directly owns 589,927 shares of the company’s stock, valued at $8,766,315.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the completion of the sale, the director now directly owns 1,261,317 shares in the company, valued at $15,072,738.15. The disclosure for this sale can be found here. Insiders have sold 427,143 shares of company stock valued at $5,502,579 over the last ninety days. 3.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently added to or reduced their stakes in RUN. Vanguard Group Inc. boosted its holdings in Sunrun by 14.0% in the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after purchasing an additional 2,743,148 shares during the last quarter. Norges Bank acquired a new position in shares of Sunrun in the fourth quarter worth about $23,186,000. Deutsche Bank AG raised its position in shares of Sunrun by 112.9% in the third quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock worth $27,969,000 after acquiring an additional 1,180,823 shares during the period. Greenvale Capital LLP raised its position in shares of Sunrun by 15.3% in the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after acquiring an additional 1,100,000 shares during the period. Finally, Masters Capital Management LLC acquired a new position in shares of Sunrun in the fourth quarter worth about $19,630,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.