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

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Roth Capital set a $20.00 target price on Sunrun in a research note on Friday, February 28th. BNP Paribas downgraded shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. UBS Group cut their price target 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. Finally, BMO Capital Markets downgraded shares of Sunrun from a "hold" rating to a "strong sell" rating and reduced their price target for the company from $9.00 to $4.00 in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $14.06.

Sunrun Stock Down 1.6%

The company has a 50-day moving average of $7.89 and a two-hundred day moving average of $8.53. 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 company has a market capitalization of $1.99 billion, a PE ratio of -4.80 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, beating analysts' consensus estimates of ($0.22) by $0.42. The firm had revenue of $504.27 million for the quarter, compared to analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. Sell-side analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other news, insider Jeanna Steele sold 9,942 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 $67,009.08. Following the transaction, the insider now directly owns 291,238 shares in the company, valued at $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 is available at this hyperlink. Also, CEO Mary Powell sold 31,197 shares of the company'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 $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 approximately $3,603,305.10. This trade represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,993 shares of company stock valued at $612,979 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Several institutional investors and hedge funds have recently modified their holdings of RUN. Janney Montgomery Scott LLC bought a new stake in Sunrun in the 4th quarter valued at $118,000. Bleakley Financial Group LLC boosted its holdings in shares of Sunrun by 39.3% during the 4th quarter. Bleakley Financial Group LLC now owns 18,915 shares of the energy company's stock valued at $175,000 after purchasing an additional 5,332 shares during the last quarter. Empowered Funds LLC grew its position in shares of Sunrun by 23.2% during the fourth quarter. Empowered Funds LLC now owns 13,734 shares of the energy company's stock valued at $127,000 after purchasing an additional 2,588 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings 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 worth $32,000 after purchasing an additional 2,000 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings 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 worth $229,000 after purchasing an additional 1,360 shares during the last quarter. 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.