Sunrun (NASDAQ:RUN) Trading 4.4% Higher

Sunrun Inc. (NASDAQ:RUN) rose 4.4% during trading on Tuesday . The stock traded as high as $11.52 and last traded at $11.37. Approximately 2,635,351 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 14,177,678 shares. The stock had previously closed at $10.89.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RUN. Morgan Stanley decreased their target price on Sunrun from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, December 8th. Jefferies Financial Group began coverage on shares of Sunrun in a research note on Friday, December 15th. They set a “buy” rating and a $25.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Sunrun in a research note on Thursday, February 22nd. Royal Bank of Canada decreased their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Finally, KeyCorp reissued a “sector weight” rating on shares of Sunrun in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun has an average rating of “Moderate Buy” and a consensus price target of $21.85.

Sunrun Stock Up 0.6 %

The company has a market capitalization of $2.89 billion, a P/E ratio of -1.78 and a beta of 2.45. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The firm’s fifty day moving average is $13.25 and its 200-day moving average is $13.36.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, February 21st. The energy company reported ($1.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The business had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. As a group, equities research analysts predict that Sunrun Inc. will post -1.99 EPS for the current year.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 8,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total transaction of $99,144.57. Following the transaction, the insider now owns 239,724 shares in the company, valued at $2,903,057.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Mary Powell sold 5,424 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $12.12, for a total value of $65,738.88. Following the completion of the sale, the chief executive officer now owns 411,628 shares in the company, valued at approximately $4,988,931.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 8,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total transaction of $99,144.57. Following the completion of the sale, the insider now owns 239,724 shares of the company’s stock, valued at approximately $2,903,057.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,834 shares of company stock worth $4,211,750. Insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its position in Sunrun by 3,750.0% during the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after buying an additional 1,500 shares during the period. Fifth Third Bancorp grew its position in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the period. Versant Capital Management Inc grew its position in Sunrun by 149.7% during the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after buying an additional 1,127 shares during the period. International Assets Investment Management LLC bought a new position in Sunrun during the third quarter valued at about $26,000. Finally, Belpointe Asset Management LLC grew its position in Sunrun by 735.2% during the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after buying an additional 1,860 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.