Sunrun (NASDAQ:RUN) Shares Gap Up to $14.16

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Thursday . The stock had previously closed at $14.16, but opened at $14.54. Sunrun shares last traded at $15.16, with a volume of 1,533,430 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RUN. Guggenheim decreased their price target on shares of Sunrun from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday, July 24th. Piper Sandler boosted their target price on Sunrun from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. dropped their price target on Sunrun from $47.00 to $38.00 in a research report on Wednesday, July 19th. Barclays decreased their price objective on Sunrun from $31.00 to $27.00 in a research report on Thursday, July 13th. Finally, KeyCorp dropped their target price on shares of Sunrun from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.75.

Sunrun Stock Performance

The stock’s 50-day simple moving average is $17.07 and its 200-day simple moving average is $18.42. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 39.89 and a beta of 2.32. The company has a current ratio of 1.47, a quick ratio of 0.91 and a debt-to-equity ratio of 1.25.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, August 2nd. The energy company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.59. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $627.73 million. Sunrun had a return on equity of 1.18% and a net margin of 3.66%. Sunrun’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) EPS. Analysts forecast that Sunrun Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 3,428 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $18.61, for a total transaction of $63,795.08. Following the completion of the transaction, the director now directly owns 1,407,196 shares in the company, valued at approximately $26,187,917.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 3,428 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $18.61, for a total value of $63,795.08. Following the completion of the transaction, the director now owns 1,407,196 shares of the company’s stock, valued at approximately $26,187,917.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Danny Abajian sold 2,030 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $15.15, for a total value of $30,754.50. Following the completion of the transaction, the chief financial officer now owns 214,943 shares of the company’s stock, valued at $3,256,386.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,702 shares of company stock worth $898,623. Insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently made changes to their positions in RUN. American Century Companies Inc. increased its position in shares of Sunrun by 24.2% during the first quarter. American Century Companies Inc. now owns 13,754 shares of the energy company’s stock worth $417,000 after buying an additional 2,679 shares during the period. US Bancorp DE grew its holdings in Sunrun by 123.5% during the 1st quarter. US Bancorp DE now owns 6,534 shares of the energy company’s stock worth $198,000 after acquiring an additional 3,611 shares during the period. Private Advisor Group LLC grew its holdings in Sunrun by 37.1% during the 1st quarter. Private Advisor Group LLC now owns 19,786 shares of the energy company’s stock worth $601,000 after acquiring an additional 5,349 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Sunrun by 58.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,836 shares of the energy company’s stock worth $329,000 after acquiring an additional 4,010 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Sunrun by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 75,865 shares of the energy company’s stock valued at $2,304,000 after purchasing an additional 7,233 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

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; and sells services to commercial developers through multi-family and new homes.