Sunrun (NASDAQ:RUN) Sees Unusually-High Trading Volume - Here's What Happened

Sunrun Inc. (NASDAQ:RUN - Get Free Report) saw strong trading volume on Friday . 19,109,707 shares were traded during mid-day trading, an increase of 66% from the previous session's volume of 11,497,572 shares.The stock last traded at $7.33 and had previously closed at $6.71.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna dropped their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Morgan Stanley reiterated an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their target price on Sunrun from $14.00 to $12.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Jefferies Financial Group downgraded shares of Sunrun from a "buy" rating to a "hold" rating and lowered their price target for the stock from $14.00 to $8.00 in a report on Wednesday, March 12th. Finally, BMO Capital Markets cut shares of Sunrun from a "hold" rating to a "strong sell" rating and lowered their target price for the stock from $9.00 to $4.00 in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Sunrun has an average rating of "Hold" and a consensus price target of $14.47.

Sunrun Trading Up 1.7%

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a 50 day moving average price of $7.56 and a two-hundred day moving average price of $8.84. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.75 and a beta of 2.66.

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

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 9,942 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now directly owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. This trade represents a 3.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster acquired 150,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. The trade was a 12.42% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 88,540 shares of company stock valued at $595,944. Insiders own 3.37% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RUN. Focus Partners Wealth increased its holdings in Sunrun by 21.2% in the first quarter. Focus Partners Wealth now owns 12,702 shares of the energy company's stock valued at $74,000 after buying an additional 2,226 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Sunrun by 14.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company's stock worth $4,458,000 after acquiring an additional 98,547 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Sunrun in the 1st quarter valued at about $87,000. Caxton Associates LLP acquired a new stake in Sunrun during the 1st quarter worth $2,045,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Sunrun by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock worth $13,518,000 after buying an additional 718,955 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

About Sunrun

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.