Sunrun (NASDAQ:RUN) Shares Up 9.6% - Time to Buy?

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares shot up 9.6% during trading on Monday . The stock traded as high as $6.87 and last traded at $6.90. 1,989,928 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 10,732,245 shares. The stock had previously closed at $6.29.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of research analyst reports. Royal Bank of Canada cut their price target on Sunrun from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Jefferies Financial Group cut shares of Sunrun from a "buy" rating to a "hold" rating and decreased their price target for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. Barclays dropped their price objective on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their price objective on Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Sunrun to a "sell" rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $16.01.

Sunrun Price Performance

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -3.76 and a beta of 2.74. The company has a fifty day simple moving average of $7.00 and a 200 day simple moving average of $9.90.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares of the company's stock, valued at $8,569,952.30. This represents a 5.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeanna Steele sold 9,942 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now directly owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. This represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 138,540 shares of company stock valued at $1,050,944 in the last quarter. 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 added to or reduced their stakes in RUN. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of Sunrun by 12.1% during the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 90,536 shares of the energy company's stock valued at $531,000 after buying an additional 9,804 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Sunrun by 120.4% during the first quarter. QRG Capital Management Inc. now owns 34,655 shares of the energy company's stock worth $203,000 after acquiring an additional 18,928 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Sunrun in the first quarter worth $273,000. Handelsbanken Fonder AB grew its position in shares of Sunrun by 40.9% in the first quarter. Handelsbanken Fonder AB now owns 1,338,168 shares of the energy company's stock valued at $7,842,000 after purchasing an additional 388,523 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Sunrun by 14.7% in the first quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock valued at $72,000 after purchasing an additional 1,571 shares in the last quarter. 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.