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Sunrun (NASDAQ:RUN) Shares Up 15.4% - Here's Why

Sunrun logo with Energy background

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares traded up 15.4% during mid-day trading on Friday . The company traded as high as $9.43 and last traded at $9.78. 12,408,498 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 12,006,710 shares. The stock had previously closed at $8.47.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Glj Research upgraded Sunrun from a "strong sell" rating to a "hold" rating and set a $7.78 price target for the company in a research report on Friday, May 30th. Citigroup restated a "neutral" rating and issued a $7.00 price target on shares of Sunrun in a research report on Thursday, April 17th. Truist Financial restated a "hold" rating and set a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. The Goldman Sachs Group upped their target price on Sunrun from $12.00 to $15.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $12.00 target price on shares of Sunrun in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.06.

Get Our Latest Research Report on Sunrun

Sunrun Price Performance

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $2.20 billion, a P/E ratio of -5.30 and a beta of 2.61. The firm has a 50-day simple moving average of $8.12 and a 200-day simple moving average of $8.45.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its 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 analysts' expectations of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.40) EPS. As a group, analysts forecast that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Buying and Selling at Sunrun

In other news, CRO Paul S. Dickson sold 19,343 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total transaction of $130,371.82. Following the completion of the sale, the executive now owns 399,729 shares in the company, valued at approximately $2,694,173.46. This represents a 4.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeanna Steele sold 9,942 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $67,009.08. Following the sale, the insider now owns 291,238 shares of the company's stock, valued at approximately $1,962,944.12. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 88,993 shares of company stock valued at $612,979. 3.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc lifted its holdings in shares of Sunrun by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company's stock valued at $229,000 after purchasing an additional 1,360 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Sunrun by 14.7% during the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock valued at $72,000 after purchasing an additional 1,571 shares during the last quarter. Alterna Wealth Management Inc. raised its stake in Sunrun by 16.6% in the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock worth $71,000 after acquiring an additional 1,720 shares during the last quarter. Guggenheim Capital LLC raised its stake in Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company's stock worth $253,000 after acquiring an additional 1,749 shares during the last quarter. Finally, Xponance Inc. raised its stake in Sunrun by 13.2% in the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company's stock worth $150,000 after acquiring an additional 1,895 shares during the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

Sunrun Company Profile

(Get Free Report)

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.

Further Reading

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