Sunrun Inc. (NASDAQ:RUN – Get Free Report)’s share price shot up 5.6% during trading on Tuesday . The stock traded as high as $13.36 and last traded at $13.36. 4,627,204 shares traded hands during trading, a decline of 65% from the average session volume of 13,217,267 shares. The stock had previously closed at $12.65.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Royal Bank of Canada dropped 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. Jefferies Financial Group reduced their price objective on shares of Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Susquehanna cut their price target on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a report on Thursday, May 9th. Finally, Morgan Stanley boosted their price objective on shares of Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has a consensus rating of “Moderate Buy” and an average price target of $21.47.
Sunrun Price Performance
The company has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $13.31. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of -2.00 and a beta of 2.61.
Sunrun (NASDAQ:RUN – Get Free Report) last issued its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.09. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The business had revenue of $458.20 million for the quarter, compared to analyst estimates of $471.38 million. During the same period last year, the company posted ($1.12) EPS. The business’s quarterly revenue was down 22.3% on a year-over-year basis. As a group, research analysts anticipate that Sunrun Inc. will post -1.27 earnings per share for the current year.
Insider Buying and Selling at Sunrun
In other news, Director Edward Harris Fenster sold 172,920 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $11.95, for a total value of $2,066,394.00. Following the transaction, the director now owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.44, for a total transaction of $33,197.56. Following the sale, the insider now owns 315,287 shares in the company, valued at $4,552,744.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward Harris Fenster sold 172,920 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total transaction of $2,066,394.00. Following the transaction, 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 a total of 362,033 shares of company stock valued at $4,716,701 over the last ninety days. Corporate insiders own 3.76% of the company’s stock.
Institutional Investors Weigh In On Sunrun
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Vanguard Group Inc. raised its stake in shares of Sunrun by 14.0% in the 1st 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 in the last quarter. Norges Bank bought a new stake in shares of Sunrun in the 4th quarter valued at approximately $23,186,000. Deutsche Bank AG raised its position in shares of Sunrun by 112.9% during the 3rd quarter. Deutsche Bank AG now owns 2,226,821 shares of the energy company’s stock valued at $27,969,000 after acquiring an additional 1,180,823 shares in the last quarter. Greenvale Capital LLP grew its position in shares of Sunrun by 15.3% during the 4th quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock valued at $162,929,000 after buying an additional 1,100,000 shares during the last quarter. Finally, Masters Capital Management LLC bought a new position in Sunrun during the 4th quarter worth $19,630,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.
Sunrun Company Profile
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.