Sunrun (NASDAQ:RUN) Shares Gap Up - What's Next?

Key Points

• Sunrun shares opened at $14.77 after a previous close of $13.92, with a last traded price of $15.01 and a trading volume of over 12.8 million shares.
• BNP Paribas Exane upgraded Sunrun's stock from "neutral" to "outperform" with a price target of $21.00, while Goldman Sachs raised their target from $12.00 to $15.00.
• Sunrun reported a significant earnings surprise with an EPS of $1.07 for the last quarter, exceeding expectations by $1.25, and experienced an 8.7% year-over-year revenue growth.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $13.92, but opened at $14.77. Sunrun shares last traded at $15.01, with a volume of 12,892,106 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RUN. 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 note on Monday, July 7th. KeyCorp raised shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Sunrun from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. The Goldman Sachs Group raised their price target on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Royal Bank Of Canada raised shares of Sunrun from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $12.00 to $16.00 in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sunrun presently has an average rating of "Moderate Buy" and a consensus target price of $14.63.

Sunrun Trading Up 8.8%

The company has a quick ratio of 1.02, a current ratio of 1.41 and a debt-to-equity ratio of 3.70. The firm's 50-day simple moving average is $9.63 and its 200 day simple moving average is $8.35. The stock has a market capitalization of $3.49 billion, a P/E ratio of -1.31 and a beta of 2.37.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The energy company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $1.25. The firm had revenue of $569.34 million for the quarter, compared to the consensus estimate of $555.42 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 EPS. Equities research analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In related news, insider Jeanna Steele sold 3,668 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 439,620 shares of the company's stock, valued at approximately $4,747,896. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Ferber sold 10,927 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total value of $122,819.48. Following the completion of the sale, the director directly owned 54,947 shares of the company's stock, valued at approximately $617,604.28. The trade was a 16.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,866 shares of company stock worth $553,083. Company insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently made changes to their positions in the company. Greenvale Capital LLP lifted its holdings in Sunrun by 50.3% in the 4th quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company's stock worth $124,875,000 after purchasing an additional 4,516,793 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company's stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the last quarter. Sylebra Capital LLC lifted its holdings in Sunrun by 23.8% in the 1st quarter. Sylebra Capital LLC now owns 8,273,331 shares of the energy company's stock worth $48,482,000 after purchasing an additional 1,590,169 shares during the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in Sunrun by 95.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 8,132,648 shares of the energy company's stock worth $66,525,000 after purchasing an additional 3,974,464 shares during the last quarter. Finally, PGGM Investments lifted its holdings in Sunrun by 316.6% in the 2nd quarter. PGGM Investments now owns 7,007,258 shares of the energy company's stock worth $57,319,000 after purchasing an additional 5,325,332 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.

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