Sunrun (NASDAQ:RUN) Trading Up 4.9% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares were up 4.9% on Monday . The company traded as high as $7.41 and last traded at $7.51. Approximately 1,621,494 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 10,775,120 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RUN shares. Truist Financial reaffirmed a "hold" rating and issued a $9.00 price target (down previously from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Barclays cut their price target on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of Sunrun to a "sell" rating in a research report on Friday, December 20th. BMO Capital Markets cut their price objective on shares of Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research report on Monday, March 3rd. Finally, Piper Sandler lowered shares of Sunrun from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Sunrun currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.20.

Remove Ads

Sunrun Stock Performance

The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -3.57 and a beta of 2.84. The company's fifty day simple moving average is $8.72 and its 200 day simple moving average is $12.31. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the company's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the transaction, the director now owns 1,041,753 shares in the company, valued at $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 171,466 shares of company stock worth $1,607,397 over the last ninety days. Insiders own 3.77% of the company's stock.

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 stake in shares of 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 acquiring an additional 343,448 shares in the last quarter. Greenvale Capital LLP lifted its position in 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 purchasing an additional 4,516,793 shares during the period. Alyeska Investment Group L.P. lifted its position in Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. State Street Corp lifted its position in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company's stock worth $165,424,000 after purchasing an additional 54,329 shares during the period. Finally, Sylebra Capital LLC lifted 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 purchasing an additional 3,699,405 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.