Sunrun (NASDAQ:RUN) Shares Gap Up - Time to Buy?

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.64, but opened at $11.38. Sunrun shares last traded at $10.51, with a volume of 13,532,537 shares trading hands.

Wall Street Analysts Forecast Growth

RUN has been the subject of a number of research reports. UBS Group decreased their target price on Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 30th. BNP Paribas Exane upgraded Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 target price for the company in a report on Monday, July 7th. Jefferies Financial Group upgraded Sunrun from an "underperform" rating to a "hold" rating and boosted their target price for the stock from $5.00 to $11.00 in a report on Wednesday, July 9th. Wells Fargo & Company decreased their target price on Sunrun from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Finally, Royal Bank Of Canada cut Sunrun from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $12.00 to $5.00 in a report on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.30.

Sunrun Stock Performance

The stock's 50-day moving average price is $8.90 and its 200-day moving average price is $8.25. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The company has a market capitalization of $2.42 billion, a P/E ratio of -0.87 and a beta of 2.60.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. The company 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%. Sunrun's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) earnings per share. As a group, equities analysts expect that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Transactions at Sunrun

In other Sunrun news, insider Jeanna Steele sold 3,668 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $10.80, for a total value of $39,614.40. Following the sale, the insider directly owned 439,620 shares of the company's stock, valued at $4,747,896. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward Harris Fenster bought 50,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the completion of the transaction, the director directly owned 1,408,182 shares of the company's stock, valued at $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 41,939 shares of company stock valued at $430,264 over the last three months. 3.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 52,176 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Sunrun during the fourth quarter worth about $402,000. Sowell Financial Services LLC acquired a new position in Sunrun during the first quarter worth about $273,000. Greenvale Capital LLP grew its holdings in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after acquiring an additional 4,516,793 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Sunrun by 572.1% during the first quarter. GAMMA Investing LLC now owns 71,896 shares of the energy company's stock worth $421,000 after acquiring an additional 61,198 shares during the period. 91.69% of the stock is currently owned by 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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