Sunrun (NASDAQ:RUN) Shares Gap Up - Still a Buy?

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $14.37, but opened at $15.34. Sunrun shares last traded at $15.67, with a volume of 2,046,292 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RUN. Truist Financial reaffirmed a "hold" rating and set a $18.00 price target (up previously from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. The Goldman Sachs Group restated a "buy" rating and issued a $20.00 price target on shares of Sunrun in a report on Wednesday, September 25th. StockNews.com upgraded Sunrun to a "sell" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on Sunrun from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Finally, Glj Research upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sunrun currently has an average rating of "Hold" and an average price target of $22.79.

Sunrun Trading Up 0.4 %

The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -2.26 and a beta of 2.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The company has a 50-day moving average price of $17.90 and a 200-day moving average price of $15.24.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The business had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The company's revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, research analysts forecast that Sunrun Inc. will post -0.17 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 24,161 shares of Sunrun stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total transaction of $464,857.64. Following the transaction, the insider now owns 310,617 shares of the company's stock, valued at $5,976,271.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Jeanna Steele sold 24,161 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the sale, the insider now owns 310,617 shares in the company, valued at approximately $5,976,271.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gerald Alan Risk sold 9,045 shares of the business's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.04, for a total value of $181,261.80. Following the completion of the transaction, the director now owns 334,761 shares in the company, valued at $6,708,610.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 180,001 shares of company stock worth $3,220,345 over the last 90 days. Corporate insiders own 3.76% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently modified their holdings of the company. Sylebra Capital LLC purchased a new position in Sunrun during the 2nd quarter valued at about $35,387,000. Vanguard Group Inc. increased its stake in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company's stock worth $294,245,000 after purchasing an additional 2,743,148 shares in the last quarter. Greenvale Capital LLP raised its position in shares of Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company's stock worth $139,355,000 after purchasing an additional 2,000,000 shares during the last quarter. Senator Investment Group LP acquired a new position in shares of Sunrun during the 2nd quarter worth approximately $11,860,000. Finally, Assenagon Asset Management S.A. lifted its stake in Sunrun by 207.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company's stock valued at $24,843,000 after buying an additional 927,947 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

About Sunrun

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.