Sunrun (NASDAQ:RUN) Reaches New 12-Month High Following Analyst Upgrade

Key Points

• Sunrun Inc. reached a new 12-month high of $20.02 after Deutsche Bank upgraded its price target from $11.00 to $20.00, maintaining a hold rating.
• The stock volume reached over 5.4 million shares, with the company's market cap now at $4.36 billion and institutional investors holding approximately 91.69% of the stock.
• Recently, company insiders have sold shares, with CEO Mary Powell and CFO Danny Abajian selling a combined total of $90,101.46 worth of stock, representing small decreases in their respective ownerships.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) hit a new 52-week high on Wednesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $11.00 to $20.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Sunrun traded as high as $20.02 and last traded at $19.23, with a volume of 5418633 shares. The stock had previously closed at $17.29.

A number of other research analysts have also recently commented on the company. Cowen restated a "buy" rating on shares of Sunrun in a research note on Thursday, August 7th. TD Cowen raised their price target on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. KeyCorp upgraded Sunrun from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on Sunrun from $20.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Finally, Zacks Research upgraded Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of "Moderate Buy" and an average price target of $15.60.

Insider Transactions at Sunrun

In other news, CEO Mary Powell sold 3,142 shares of Sunrun stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.93, for a total value of $53,194.06. Following the sale, the chief executive officer directly owned 888,289 shares of the company's stock, valued at approximately $15,038,732.77. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 2,180 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $16.93, for a total value of $36,907.40. Following the sale, the chief financial officer directly owned 435,479 shares in the company, valued at $7,372,659.47. The trade was a 0.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,136 shares of company stock valued at $1,076,538. 3.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in shares of Sunrun during the second quarter valued at approximately $102,000. Osaic Holdings Inc. boosted its holdings in shares of Sunrun by 6.3% in the second quarter. Osaic Holdings Inc. now owns 22,386 shares of the energy company's stock valued at $183,000 after purchasing an additional 1,332 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Sunrun by 2.0% in the second quarter. Thrivent Financial for Lutherans now owns 168,009 shares of the energy company's stock valued at $1,374,000 after purchasing an additional 3,228 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Sunrun in the second quarter valued at approximately $667,000. Finally, Marex Group plc purchased a new stake in shares of Sunrun in the second quarter valued at approximately $2,948,000. Institutional investors own 91.69% of the company's stock.

Sunrun Stock Up 9.3%

The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02. The stock has a market cap of $4.36 billion, a PE ratio of -1.63 and a beta of 2.21. The business has a fifty day moving average of $14.37 and a 200-day moving average of $10.23.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The energy company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $1.25. The company had revenue of $569.34 million during the quarter, compared to analyst estimates of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.Sunrun's revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. Equities research analysts anticipate that Sunrun Inc. will post -0.43 earnings per share 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.

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