Sunrun (NASDAQ:RUN) Shares Up 8.8% - Should You Buy?

Key Points

• Sunrun Inc. shares surged 8.8% during trading, reaching a high of $21.37 before closing at $21.56, despite trading volume being significantly lower than average.
• Analysts have provided a consensus rating of "Moderate Buy" for Sunrun, with price targets ranging from $14.00 to $21.00 following several recent upgrades.
• Institutional investors hold 91.69% of Sunrun's stock, indicating strong interest from hedge funds and investment firms in the company's growth potential.

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares shot up 8.8% during trading on Friday . The stock traded as high as $21.37 and last traded at $21.56. 3,163,146 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 15,638,277 shares. The stock had previously closed at $19.82.

Wall Street Analysts Forecast Growth

RUN has been the topic of several recent research reports. Glj Research raised Sunrun from a "sell" rating to a "hold" rating in a report on Friday, August 15th. BMO Capital Markets set a $19.00 price target on Sunrun and gave the stock a "market perform" rating in a report on Wednesday, October 15th. Jefferies Financial Group raised Sunrun from a "hold" rating to a "buy" rating and raised their price target for the stock from $11.00 to $21.00 in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft raised their price target on Sunrun from $11.00 to $20.00 and gave the stock a "hold" rating in a report on Wednesday, October 1st. Finally, TD Cowen raised their price target on Sunrun from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.60.

Sunrun Stock Up 5.2%

The firm has a 50 day simple moving average of $17.50 and a two-hundred day simple moving average of $11.77. The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The stock has a market cap of $4.81 billion, a P/E ratio of -1.79 and a beta of 2.41.

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

Insider Transactions at Sunrun

In other news, CFO Danny Abajian sold 9,055 shares of the business's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $19.35, for a total value of $175,214.25. Following the sale, the chief financial officer owned 424,606 shares of the company's stock, valued at approximately $8,216,126.10. The trade was a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanna Steele sold 4,475 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $21.71, for a total value of $97,152.25. Following the completion of the sale, the insider directly owned 361,789 shares in the company, valued at $7,854,439.19. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 266,956 shares of company stock worth $4,931,665 over the last 90 days. 3.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of RUN. PGGM Investments grew its holdings in shares of 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 acquiring an additional 5,325,332 shares during the last quarter. Maple Rock Capital Partners Inc. grew its holdings in shares of 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 acquiring an additional 3,974,464 shares during the last quarter. Sylebra Capital LLC grew its holdings in shares of 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 acquiring an additional 1,590,169 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sunrun in the 2nd quarter worth $9,668,000. Finally, HRT Financial LP acquired a new position in shares of Sunrun in the 2nd quarter worth $9,416,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

Sunrun Company Profile

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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