Sunrun (NASDAQ:RUN) Trading 8.8% Higher – What’s Next?

Sunrun Inc. (NASDAQ:RUN) shares rose 8.8% on Friday . The stock traded as high as $21.37 and last traded at $21.56. Approximately 3,163,146 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 15,638,277 shares. The stock had previously closed at $19.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RUN. Glj Research raised Sunrun from a “sell” rating to a “hold” rating in a research report on Friday, August 15th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. TD Cowen upped their price objective on shares of Sunrun from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. BNP Paribas Exane upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sunrun from $11.00 to $20.00 and gave the company a “hold” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $18.60.

Sunrun Stock Up 5.2%

The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -1.80 and a beta of 2.41. The firm has a 50 day moving average price of $17.64 and a two-hundred day moving average price of $11.91.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $1.25. The firm had revenue of $569.34 million during the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 21,037 shares of Sunrun stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $20.25, for a total transaction of $425,999.25. Following the transaction, the insider owned 366,264 shares in the company, valued at approximately $7,416,846. The trade was a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $19.31, for a total transaction of $965,500.00. Following the sale, the director directly owned 850,482 shares of the company’s stock, valued at approximately $16,422,807.42. This trade represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 266,956 shares of company stock worth $4,931,665. 3.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company’s stock worth $72,000 after acquiring an additional 1,571 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Sunrun by 19.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,758 shares of the energy company’s stock valued at $180,000 after purchasing an additional 5,033 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Sunrun by 277.0% during the first quarter. Vontobel Holding Ltd. now owns 383,617 shares of the energy company’s stock valued at $2,248,000 after purchasing an additional 281,869 shares during the period. Alterna Wealth Management Inc. lifted its position in shares of Sunrun by 16.6% during the first quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company’s stock worth $71,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Sunrun in the first quarter valued at $192,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.