Sunrun (NASDAQ:RUN) Shares Gap Up to $11.28

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $11.28, but opened at $11.60. Sunrun shares last traded at $12.01, with a volume of 3,563,129 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $19.00 price target on shares of Sunrun in a research report on Thursday, February 22nd. Jefferies Financial Group started coverage on Sunrun in a research report on Friday, December 15th. They set a “buy” rating and a $25.00 price target on the stock. The Goldman Sachs Group raised their target price on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Truist Financial reaffirmed a “hold” rating and issued a $14.00 target price (down previously from $15.00) on shares of Sunrun in a report on Monday, February 26th. Finally, Janney Montgomery Scott downgraded Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and an average price target of $21.85.

Sunrun Stock Up 0.6 %

The firm’s 50 day moving average price is $13.25 and its 200 day moving average price is $13.36. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26.

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

Insider Buying and Selling at Sunrun

In other Sunrun news, Director Alan Ferber bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, with a total value of $97,300.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Danny Abajian sold 12,030 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $12.12, for a total value of $145,803.60. Following the sale, the chief financial officer now owns 193,935 shares in the company, valued at $2,350,492.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Ferber bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $97,300. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 64,523 shares of company stock valued at $776,578. Corporate insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Sunrun by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 19,581,958 shares of the energy company’s stock worth $384,394,000 after acquiring an additional 176,861 shares during the period. Wellington Management Group LLP bought a new stake in shares of Sunrun during the 4th quarter valued at $15,935,000. EP Wealth Advisors LLC raised its position in shares of Sunrun by 20.4% during the 4th quarter. EP Wealth Advisors LLC now owns 21,364 shares of the energy company’s stock valued at $419,000 after purchasing an additional 3,624 shares during the period. FIL Ltd raised its position in shares of Sunrun by 168.2% during the 4th quarter. FIL Ltd now owns 141,916 shares of the energy company’s stock valued at $2,786,000 after purchasing an additional 89,002 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Sunrun by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 213,780 shares of the energy company’s stock valued at $4,197,000 after purchasing an additional 10,909 shares during the period. 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.