Sunrun (NASDAQ:RUN) Shares Up 3.6% on Insider Buying Activity

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares traded up 3.6% on Tuesday following insider buying activity. The company traded as high as $6.52 and last traded at $6.39. 6,892,974 shares changed hands during trading, a decline of 35% from the average session volume of 10,530,125 shares. The stock had previously closed at $6.17.

Specifically, Director Edward Harris Fenster purchased 150,000 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the purchase, the director now owns 1,358,182 shares of the company's stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

RUN has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Piper Sandler downgraded shares of Sunrun from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. BMO Capital Markets cut their target price on Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, March 3rd. Roth Mkm lowered their price target on Sunrun from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, November 8th. Finally, Jefferies Financial Group dropped their price target on Sunrun from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sunrun presently has an average rating of "Moderate Buy" and a consensus target price of $17.51.

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Sunrun Stock Up 4.2 %

The business's fifty day simple moving average is $9.01 and its two-hundred day simple moving average is $12.77. The company has a market cap of $1.61 billion, a PE ratio of -3.93 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Hedge Funds Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Sunrun by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company's stock valued at $219,679,000 after purchasing an additional 343,448 shares during the period. Greenvale Capital LLP lifted its position in shares of Sunrun by 50.3% during the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after buying an additional 4,516,793 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock valued at $111,263,000 after acquiring an additional 10,294,947 shares during the period. State Street Corp increased its holdings in Sunrun by 0.6% in the 3rd quarter. State Street Corp now owns 9,159,711 shares of the energy company's stock worth $165,424,000 after acquiring an additional 54,329 shares in the last quarter. Finally, Sylebra Capital LLC raised its position in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after acquiring an additional 3,699,405 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.