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

Key Points

• Sunrun shares gapped up before trading, opening at $15.49 versus a prior close of $12.81 and last trading around $15.94 on heavy volume.
• Analysts remain mixed on the stock, with recent price-target changes ranging from Goldman Sachs’ buy rating and $18 target to Glj Research’s sell rating and $4.63 target. MarketBeat shows an overall Hold rating and an average target price of $18.98.
• Sunrun’s latest earnings beat expectations, reporting $0.62 EPS versus an expected loss and revenue of $722.23 million, up 43.2% year over year.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $12.81, but opened at $15.49. Sunrun shares last traded at $15.9440, with a volume of 16,164,102 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RUN. Susquehanna dropped their price objective on Sunrun from $24.00 to $19.00 and set a "positive" rating for the company in a research report on Thursday, April 9th. The Goldman Sachs Group restated a "buy" rating and issued a $18.00 price target on shares of Sunrun in a research note on Thursday, May 7th. Glj Research reiterated a "sell" rating and set a $4.63 price objective on shares of Sunrun in a research report on Thursday, June 11th. Oppenheimer increased their price objective on shares of Sunrun from $23.00 to $25.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Finally, Weiss Ratings lowered shares of Sunrun from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday, June 9th. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $18.98.

Sunrun Price Performance

The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.09 and a current ratio of 1.45. The business has a 50 day moving average price of $13.52 and a 200-day moving average price of $15.69. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 7.69 and a beta of 2.32.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The business had revenue of $722.23 million during the quarter, compared to the consensus estimate of $688.50 million. During the same period in the previous year, the company posted $0.20 earnings per share. The firm's revenue for the quarter was up 43.2% on a year-over-year basis. Research analysts predict that Sunrun Inc. will post 1.09 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, insider Jeanna Steele sold 76,478 shares of Sunrun stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,013,333.50. Following the completion of the sale, the insider owned 384,538 shares in the company, valued at $5,095,128.50. The trade was a 16.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 2,030 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $13.39, for a total transaction of $27,181.70. Following the transaction, the chief financial officer owned 438,781 shares in the company, valued at $5,875,277.59. The trade was a 0.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 694,816 shares of company stock worth $9,366,473. Corporate insiders own 3.55% of the company's stock.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC raised its position in shares of Sunrun by 49.2% in the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company's stock valued at $31,000 after purchasing an additional 558 shares during the period. Hantz Financial Services Inc. boosted its holdings in Sunrun by 59.1% in the 4th quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company's stock worth $28,000 after buying an additional 564 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Sunrun by 3.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,481 shares of the energy company's stock worth $322,000 after buying an additional 565 shares during the period. Sage Rhino Capital LLC grew its stake in Sunrun by 5.2% in the 4th quarter. Sage Rhino Capital LLC now owns 11,468 shares of the energy company's stock valued at $211,000 after buying an additional 572 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Sunrun by 62.9% in the 4th quarter. UMB Bank n.a. now owns 1,732 shares of the energy company's stock valued at $32,000 after buying an additional 669 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

About Sunrun

Sunrun, Inc NASDAQ: RUN is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun's network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.

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