Sunrun (NASDAQ:RUN) Shares Up 7.2% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price was up 7.2% during mid-day trading on Thursday . The stock traded as high as $10.04 and last traded at $9.92. Approximately 2,203,485 shares changed hands during trading, a decline of 81% from the average daily volume of 11,560,361 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

RUN has been the topic of several research reports. Barclays decreased their price objective on shares of Sunrun from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 16th. BNP Paribas cut shares of Sunrun from an "outperform" rating to a "neutral" rating and set a $14.00 price target on the stock. in a report on Friday, November 8th. Wells Fargo & Company reduced their price objective on Sunrun from $20.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Susquehanna lowered their target price on Sunrun from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Wednesday, October 16th. Finally, Truist Financial reissued a "hold" rating and set a $12.00 price target (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $19.21.

Sunrun Price Performance

The company has a 50 day moving average price of $11.20 and a 200-day moving average price of $14.85. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The company has a market cap of $2.29 billion, a price-to-earnings ratio of -5.61 and a beta of 2.54.

Insider Buying and Selling at Sunrun

In related news, insider Jeanna Steele sold 2,624 shares of the company's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $42,902.40. Following the sale, the insider now directly owns 305,636 shares in the company, valued at $4,997,148.60. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 6,415 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.34, for a total transaction of $104,821.10. Following the completion of the transaction, the chief executive officer now owns 569,368 shares in the company, valued at $9,303,473.12. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,691 shares of company stock worth $2,011,601. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its position in shares of Sunrun by 6.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company's stock worth $186,000 after purchasing an additional 895 shares in the last quarter. Signaturefd LLC grew its stake in Sunrun by 37.0% in the second quarter. Signaturefd LLC now owns 10,922 shares of the energy company's stock valued at $130,000 after acquiring an additional 2,952 shares during the period. Natixis Advisors LLC bought a new stake in shares of Sunrun during the second quarter valued at approximately $314,000. Rhumbline Advisers raised its position in shares of Sunrun by 25.3% during the second quarter. Rhumbline Advisers now owns 758,512 shares of the energy company's stock worth $8,996,000 after purchasing an additional 153,007 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of Sunrun by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company's stock worth $538,000 after purchasing an additional 691 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors.

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.