Sunrun Inc. (NASDAQ:RUN – Get Rating)’s share price gapped up before the market opened on Thursday after Evercore ISI raised their price target on the stock from $64.00 to $67.00. The stock had previously closed at $30.74, but opened at $33.08. Sunrun shares last traded at $32.44, with a volume of 130,397 shares traded.
A number of other equities analysts have also recently issued reports on the company. Piper Sandler upped their target price on Sunrun from $29.00 to $30.00 and gave the stock a “maintains” rating in a report on Thursday. Wells Fargo & Company assumed coverage on Sunrun in a report on Wednesday, June 29th. They issued an “equal weight” rating and a $27.00 target price for the company. Roth Capital lowered their target price on Sunrun from $42.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Morgan Stanley lowered their target price on Sunrun from $89.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, June 13th. Finally, JPMorgan Chase & Co. upped their target price on Sunrun from $50.00 to $52.00 in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.93.
Insider Transactions at Sunrun
In related news, insider Jeanna Steele sold 1,458 shares of the company’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $22.62, for a total transaction of $32,979.96. Following the sale, the insider now owns 159,095 shares in the company, valued at approximately $3,598,728.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jeanna Steele sold 1,458 shares of the business’s stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $22.62, for a total transaction of $32,979.96. Following the transaction, the insider now owns 159,095 shares in the company, valued at approximately $3,598,728.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edward Harris Fenster sold 25,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.00, for a total transaction of $625,000.00. Following the transaction, the insider now directly owns 1,585,134 shares in the company, valued at $39,628,350. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,973 shares of company stock valued at $6,546,339. Corporate insiders own 4.29% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in shares of Sunrun by 512.3% in the first quarter. CWM LLC now owns 845 shares of the energy company’s stock worth $26,000 after purchasing an additional 707 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Sunrun by 743.6% in the first quarter. Clearstead Advisors LLC now owns 928 shares of the energy company’s stock valued at $28,000 after purchasing an additional 818 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Sunrun by 120.6% in the first quarter. Fifth Third Bancorp now owns 1,006 shares of the energy company’s stock valued at $31,000 after purchasing an additional 550 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Sunrun in the first quarter valued at approximately $32,000. Finally, Verity Asset Management Inc. bought a new position in shares of Sunrun in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.54% of the company’s stock.
Sunrun Stock Up 4.7 %
The company has a debt-to-equity ratio of 1.03, a current ratio of 1.60 and a quick ratio of 1.08. The stock has a fifty day moving average price of $25.40 and a two-hundred day moving average price of $25.51. The company has a market cap of $6.77 billion, a P/E ratio of -43.91 and a beta of 2.29.
Sunrun (NASDAQ:RUN – Get Rating) last posted its earnings results on Wednesday, May 4th. The energy company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.35). Sunrun had a negative net margin of 8.10% and a negative return on equity of 1.64%. The company had revenue of $495.78 million during the quarter, compared to the consensus estimate of $401.60 million. During the same quarter in the prior year, the business earned ($0.11) EPS. The firm’s revenue for the quarter was up 48.1% compared to the same quarter last year. On average, research analysts expect that Sunrun Inc. will post -1.11 EPS for the current year.
About Sunrun
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of 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.