Sunrun (NASDAQ:RUN) Shares Gap Up – Here’s Why

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Wednesday . The stock had previously closed at $8.86, but opened at $9.16. Sunrun shares last traded at $9.07, with a volume of 1,590,358 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RUN shares. Roth Mkm reduced their price target on shares of Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Truist Financial reissued a “hold” rating and set a $12.00 target price (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Wells Fargo & Company cut their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Glj Research reissued a “sell” rating and set a $7.78 target price on shares of Sunrun in a research report on Thursday, November 7th. Finally, UBS Group raised shares of Sunrun from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $17.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Sunrun Stock Performance

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -4.63 and a beta of 2.59. The firm’s 50 day simple moving average is $9.47 and its 200 day simple moving average is $13.51.

Insider Activity

In other news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock valued at $1,572,147 in the last three months. 3.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in RUN. Aster Capital Management DIFC Ltd purchased a new stake in Sunrun in the 4th quarter worth $29,000. International Assets Investment Management LLC increased its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after acquiring an additional 1,638 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Blue Trust Inc. increased its holdings in Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Sunrun in the 3rd quarter worth $44,000. 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.