Sunrun (NASDAQ:RUN) Trading 8.1% Higher - Time to Buy?

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s stock price was up 8.1% during mid-day trading on Monday . The company traded as high as $6.85 and last traded at $7.03. Approximately 3,609,492 shares changed hands during trading, a decline of 66% from the average daily volume of 10,686,312 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RUN shares. Wells Fargo & Company reduced their price objective on Sunrun from $15.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. Truist Financial restated a "hold" rating and set a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Piper Sandler cut Sunrun from an "overweight" rating to a "neutral" rating and cut their price target for the company from $23.00 to $11.00 in a research note on Friday, November 22nd. TD Cowen cut their price target on Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Barclays cut their price target on Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.20.

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Sunrun Stock Down 2.9 %

The firm has a 50 day simple moving average of $8.30 and a two-hundred day simple moving average of $11.82. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of -3.59 and a beta of 2.84.

Insider Transactions at Sunrun

In other news, CRO Paul S. Dickson sold 2,968 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the completion of the transaction, the executive now directly owns 418,492 shares in the company, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Danny Abajian sold 3,734 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the transaction, the chief financial officer now owns 257,969 shares of the company's stock, valued at $2,884,093.42. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,466 shares of company stock worth $1,136,397. Corporate insiders own 3.77% of the company's stock.

Institutional Trading of Sunrun

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Sunrun by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 23,749,115 shares of the energy company's stock worth $219,679,000 after purchasing an additional 343,448 shares in the last quarter. Greenvale Capital LLP increased its stake 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 worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of 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 purchasing an additional 10,294,947 shares during the last quarter. State Street Corp increased its stake in shares of Sunrun by 0.6% during the 3rd 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 last quarter. Finally, Sylebra Capital LLC boosted its holdings in Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company's stock worth $61,819,000 after buying an additional 3,699,405 shares during the period. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.