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

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $10.50, but opened at $10.88. Sunrun shares last traded at $10.87, with a volume of 4,819,488 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RUN. Susquehanna lowered their target price on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Citigroup reiterated a "neutral" rating and issued a $7.00 price objective on shares of Sunrun in a research report on Thursday, April 17th. BNP Paribas Exane upgraded shares of Sunrun from a "neutral" rating to an "outperform" rating and set a $21.00 price objective on the stock in a research report on Monday. Mizuho set a $13.00 price objective on shares of Sunrun and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, BNP Paribas upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research report on Monday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Sunrun presently has an average rating of "Hold" and an average price target of $13.72.

Sunrun Stock Performance

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 firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of -0.80 and a beta of 2.60. The company has a 50-day moving average of $8.47 and a 200-day moving average of $8.19.

Sunrun (NASDAQ:RUN - Get Free Report) last posted 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 business had revenue of $504.27 million for the quarter, compared to analyst estimates of $487.29 million. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The business's revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.40) EPS. On average, equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward Harris Fenster acquired 50,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the purchase, the director directly owned 1,408,182 shares in the company, valued at $15,306,938.34. This represents a 3.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 8,855 shares of company stock worth $72,877. 3.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Sunrun by 8.6% in 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 valued at $6,125,000 after buying an additional 52,176 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Sunrun in the fourth quarter valued at $402,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sunrun by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company's stock valued at $21,511,000 after buying an additional 155,311 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Sunrun in the first quarter valued at $273,000. Finally, Greenvale Capital LLP lifted its holdings in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock valued at $124,875,000 after buying an additional 4,516,793 shares during the period. 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.