Sunrun Inc. (NASDAQ:RUN – Get Free Report)’s share price traded up 8.1% during mid-day trading on Monday. The company traded as high as $7.94 and last traded at $8.0870. 1,576,168 shares were traded during mid-day trading, a decline of 83% from the average session volume of 9,180,251 shares. The stock had previously closed at $7.48.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a report on Thursday, July 9th. Royal Bank Of Canada dropped their price target on shares of Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. TD Cowen lowered their target price on Sunrun from $21.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Mizuho set a $18.00 price objective on Sunrun in a research report on Thursday, August 6th. Finally, Susquehanna cut their price target on shares of Sunrun from $15.00 to $13.00 and set a “positive” rating on the stock in a report on Wednesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Sunrun presently has a consensus rating of “Hold” and a consensus target price of $14.39.
View Our Latest Analysis on Sunrun
Sunrun Price Performance
The stock’s fifty day moving average is $8.12 and its 200-day moving average is $12.48. The company has a debt-to-equity ratio of 3.34, a current ratio of 1.42 and a quick ratio of 1.00. The stock has a market capitalization of $1.97 billion, a P/E ratio of 5.52 and a beta of 2.44.
Sunrun (NASDAQ:RUN – Get Free Report) last posted its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The firm had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. During the same period in the previous year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 52.8% on a year-over-year basis. On average, equities analysts anticipate that Sunrun Inc. will post 1.46 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Danny Abajian sold 16,734 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $129,855.84. Following the completion of the sale, the chief financial officer directly owned 386,532 shares of the company’s stock, valued at approximately $2,999,488.32. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul Dickson sold 15,837 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total transaction of $122,895.12. Following the transaction, the executive owned 823,702 shares of the company’s stock, valued at approximately $6,391,927.52. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 68,719 shares of company stock valued at $533,277. Corporate insiders own 3.55% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in RUN. Allworth Financial LP bought a new position in shares of Sunrun during the second quarter valued at $25,000. Summit Securities Group LLC acquired a new stake in shares of Sunrun during the 1st quarter worth approximately $36,000. Nykredit A S acquired a new position in shares of Sunrun in the 2nd quarter valued at $78,000. Leonteq Securities AG grew its holdings in shares of Sunrun by 26.8% in the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after buying an additional 1,327 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Sunrun in the second quarter valued at about $125,000. Institutional investors and hedge funds own 91.69% of the company’s stock.
Sunrun Company Profile
Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.
Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.
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