Sunrun (NASDAQ:RUN) Reaches New 1-Year High Following Analyst Upgrade

Key Points

• Sunrun Inc. reached a new 52-week high at $21.08 after an upgrade from Susquehanna, which increased its price target from $13.00 to $23.00.
• Multiple brokerages have recently provided positive ratings and increased price targets for Sunrun, indicating growing analyst confidence in the stock.
• Insider trading activity shows that directors have recently sold significant shares, raising questions about future ownership and confidence among insiders.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) reached a new 52-week high during trading on Monday after Susquehanna raised their price target on the stock from $13.00 to $23.00. Susquehanna currently has a positive rating on the stock. Sunrun traded as high as $21.08 and last traded at $21.02, with a volume of 6482483 shares traded. The stock had previously closed at $18.80.

Several other brokerages have also recently issued reports on RUN. BMO Capital Markets lifted their price objective on shares of Sunrun from $8.00 to $10.00 and gave the stock an "underperform" rating in a report on Thursday, August 7th. BNP Paribas Exane raised shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective for the company in a research report on Monday, July 7th. The Goldman Sachs Group raised their target price on shares of Sunrun from $19.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. BNP Paribas raised Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, TD Cowen raised their price target on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.21.

Insiders Place Their Bets

In other Sunrun news, Director Alan Ferber sold 10,927 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the sale, the director directly owned 54,947 shares in the company, valued at $617,604.28. This represents a 16.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeanna Steele sold 20,426 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $19.35, for a total value of $395,243.10. Following the transaction, the insider directly owned 393,267 shares of the company's stock, valued at approximately $7,609,716.45. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,444 shares of company stock valued at $4,408,513. 3.37% of the stock is currently owned by insiders.

Institutional Trading of Sunrun

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PGGM Investments increased its stake in Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock valued at $57,319,000 after buying an additional 5,325,332 shares during the period. Maple Rock Capital Partners Inc. boosted its position in Sunrun by 95.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company's stock valued at $66,525,000 after purchasing an additional 3,974,464 shares during the last quarter. Sylebra Capital LLC grew its stake in Sunrun by 23.8% in the first quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock valued at $48,482,000 after purchasing an additional 1,590,169 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Sunrun in the 2nd quarter worth about $9,668,000. Finally, HRT Financial LP purchased a new stake in shares of Sunrun during the 2nd quarter worth about $9,416,000. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Up 12.7%

The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of -1.82 and a beta of 2.41. The company has a fifty day moving average price of $15.76 and a 200-day moving average price of $10.97. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $1.25. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. The firm had revenue of $569.34 million for the quarter, compared to analyst estimates of $555.42 million. During the same quarter last year, the firm earned $0.55 earnings per share. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Sunrun Inc. will post -0.43 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.