Sunrun (NASDAQ:RUN) Stock Price Up 4% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report) rose 4% on Friday . The stock traded as high as $7.27 and last traded at $7.34. Approximately 1,664,271 shares were traded during trading, a decline of 84% from the average daily volume of 10,693,745 shares. The stock had previously closed at $7.05.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley reiterated an "equal weight" rating and set a $11.00 price target on shares of Sunrun in a research note on Wednesday, April 23rd. Barclays reduced 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 note on Tuesday, January 28th. TD Cowen lowered their target price on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Susquehanna dropped their target price on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Sunrun from $22.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.92.

Sunrun Price Performance

The company has a 50-day moving average of $6.83 and a 200 day moving average of $9.47. 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 firm has a market cap of $1.74 billion, a P/E ratio of -4.17 and a beta of 2.74.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the sale, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This represents a 4.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary Powell sold 31,197 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 $210,267.78. Following the completion of the sale, the chief executive officer now owns 534,615 shares of the company's stock, valued at approximately $3,603,305.10. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,540 shares of company stock valued at $1,050,944. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Alyeska Investment Group L.P. lifted its holdings in Sunrun by 593.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after buying an additional 10,294,947 shares in the last quarter. Greenvale Capital LLP raised its position in shares of Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC lifted its stake in shares of Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock valued at $61,819,000 after acquiring an additional 3,699,405 shares during the period. Norges Bank acquired a new stake in Sunrun in the fourth quarter worth about $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Sunrun in the fourth quarter worth about $18,500,000. Institutional investors and hedge funds 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.