Sunrun (NASDAQ:RUN) Shares Gap Up - Here's What Happened

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.27, but opened at $8.60. Sunrun shares last traded at $8.39, with a volume of 2,852,434 shares traded.

Wall Street Analyst Weigh In

RUN has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Sunrun from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $12.00 price objective on shares of Sunrun in a research report on Tuesday, June 3rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a research report on Wednesday, April 23rd. UBS Group reduced their price objective on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, TD Cowen reduced their price objective on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $14.06.

Sunrun Price Performance

The company's 50-day moving average is $8.04 and its two-hundred day moving average is $8.50. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market cap of $2.28 billion, a P/E ratio of -5.49 and a beta of 2.61.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $487.29 million. During the same quarter in the prior year, the business posted ($0.40) earnings per share. Sunrun's revenue was up 10.1% compared to the same quarter last year. Sell-side analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward Harris Fenster bought 50,000 shares of the company's stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the acquisition, the director now owns 1,408,182 shares of the company's stock, valued at $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary Powell sold 31,197 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $210,267.78. Following the completion of the transaction, the chief executive officer now directly owns 534,615 shares of the company's stock, valued at $3,603,305.10. This trade represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,993 shares of company stock valued at $612,979 over the last quarter. 3.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RUN. Janney Montgomery Scott LLC bought a new position in shares of Sunrun in the fourth quarter worth about $118,000. Bleakley Financial Group LLC increased its stake in shares of Sunrun by 39.3% in the fourth quarter. Bleakley Financial Group LLC now owns 18,915 shares of the energy company's stock valued at $175,000 after buying an additional 5,332 shares during the period. Empowered Funds LLC increased its stake in shares of Sunrun by 23.2% in the fourth quarter. Empowered Funds LLC now owns 13,734 shares of the energy company's stock valued at $127,000 after buying an additional 2,588 shares during the period. CIBC Asset Management Inc increased its stake in shares of Sunrun by 5.8% in the fourth quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company's stock valued at $229,000 after buying an additional 1,360 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun in the fourth quarter valued at approximately $56,000. 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.