Sunrun (NASDAQ:RUN) Sees Unusually-High Trading Volume - Still a Buy?

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares saw strong trading volume on Monday . 13,227,970 shares traded hands during mid-day trading, an increase of 1% from the previous session's volume of 13,056,505 shares.The stock last traded at $8.13 and had previously closed at $7.43.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada lowered Sunrun from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $12.00 to $5.00 in a research note on Wednesday, June 18th. Jefferies Financial Group downgraded Sunrun from a "hold" rating to an "underperform" rating and reduced their price objective for the company from $6.00 to $5.00 in a research report on Wednesday, June 11th. Truist Financial reaffirmed a "hold" rating and set a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. BMO Capital Markets downgraded shares of Sunrun from a "hold" rating to a "strong sell" rating and cut their target price for the company from $9.00 to $4.00 in a research note on Thursday, May 22nd. Finally, UBS Group reduced their target price on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $13.26.

Sunrun Stock Up 14.1%

The firm's 50-day moving average price is $8.15 and its 200-day moving average price is $8.19. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -0.70 and a beta of 2.61.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.42. The firm had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) EPS. Sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 9,942 shares of Sunrun 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 sale, the insider now directly owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Paul S. Dickson sold 19,343 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the transaction, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This trade represents a 4.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,993 shares of company stock worth $612,979. 3.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Sunrun by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company's stock worth $6,125,000 after buying an additional 52,176 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Sunrun during the 4th quarter valued at $402,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in Sunrun during the 4th quarter worth $18,500,000. Charles Schwab Investment Management Inc. increased its position in shares of Sunrun by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock worth $21,511,000 after purchasing an additional 155,311 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Sunrun in the 1st quarter valued at about $273,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

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