Sunrun (NASDAQ:RUN) Shares Gap Up to $10.95

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.95, but opened at $11.61. Sunrun shares last traded at $12.24, with a volume of 4,910,801 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Susquehanna reaffirmed a “positive” rating and set a $25.00 target price on shares of Sunrun in a report on Friday, April 5th. Piper Sandler cut their price target on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Truist Financial reaffirmed a “hold” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Finally, Janney Montgomery Scott lowered shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Sunrun has an average rating of “Moderate Buy” and an average target price of $21.26.

Sunrun Price Performance

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -1.61 and a beta of 2.50. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average price is $11.35 and its two-hundred day moving average price is $13.12.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). The firm 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%. Analysts anticipate that Sunrun Inc. will post -1.69 EPS for the current fiscal year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 8,187 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $12.11, for a total value of $99,144.57. Following the sale, the insider now owns 239,724 shares in the company, valued at $2,903,057.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Jeanna Steele sold 8,187 shares of Sunrun stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $12.11, for a total transaction of $99,144.57. Following the sale, the insider now directly owns 239,724 shares of the company’s stock, valued at $2,903,057.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Edward Harris Fenster sold 172,920 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,261,317 shares of the company’s stock, valued at approximately $15,072,738.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,760 shares of company stock worth $3,615,990. Company insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Fifth Third Bancorp lifted its holdings in shares of 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 acquiring an additional 764 shares during the period. Versant Capital Management Inc increased its position in shares of Sunrun by 149.7% during the 4th quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. USCF Advisers LLC lifted its holdings in Sunrun by 130.0% during the 4th quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its position in Sunrun by 1,483.9% in the third quarter. C M Bidwell & Associates Ltd. now owns 2,360 shares of the energy company’s stock valued at $30,000 after buying an additional 2,211 shares in the last quarter. Finally, BNP Paribas bought a new stake in Sunrun during the first quarter worth about $37,000. 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.