Sunrun (NASDAQ:RUN) Sees Large Volume Increase on Insider Buying Activity

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares saw unusually-high trading volume on Tuesday following insider buying activity. Approximately 7,139,627 shares changed hands during trading, a decline of 40% from the previous session's volume of 11,879,965 shares.The stock last traded at $12.97 and had previously closed at $10.96.

Specifically, Director Edward Harris Fenster acquired 50,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the transaction, the director now directly owns 1,408,182 shares in the company, valued at $15,306,938.34. This trade represents a 3.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

RUN has been the topic of a number of research reports. Citigroup reissued a "neutral" rating and issued a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. UBS Group reissued a "buy" rating and issued a $17.00 price objective on shares of Sunrun in a research report on Wednesday. Susquehanna cut their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. TD Cowen cut their price objective on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Finally, Jefferies Financial Group lowered shares of Sunrun from a "buy" rating to a "hold" rating and cut their price objective for the stock from $14.00 to $8.00 in a research report on Wednesday, March 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.92.

Sunrun Stock Performance

The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -6.73 and a beta of 2.66. The company's fifty day simple moving average is $7.28 and its 200 day simple moving average is $8.97. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. During the same period in the prior year, the company posted ($0.40) earnings per share. Sunrun's revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current year.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun in the fourth quarter valued at about $29,000. Newbridge Financial Services Group Inc. grew its stake in shares of Sunrun by 133.3% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company's stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Sunrun in the fourth quarter valued at about $53,000. Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun in the fourth quarter valued at about $56,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Sunrun in the first quarter valued at about $60,000. 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.