Sunrun (NASDAQ:RUN) Stock Price Up 6.6% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report) rose 6.6% during mid-day trading on Friday . The stock traded as high as $6.73 and last traded at $6.53. Approximately 8,753,535 shares changed hands during trading, a decline of 45% from the average daily volume of 15,859,039 shares. The stock had previously closed at $6.13.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial reissued a "hold" rating and set a $6.00 price target (down from $9.00) on shares of Sunrun in a research report on Wednesday, April 16th. Morgan Stanley restated an "equal weight" rating and issued a $11.00 target price on shares of Sunrun in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their price target on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a report on Monday, May 19th. KeyCorp reiterated an "underweight" rating and set a $6.00 price objective on shares of Sunrun in a report on Tuesday. Finally, Mizuho set a $13.00 price target on Sunrun and gave the company an "outperform" rating in a research note on Monday, June 2nd. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $13.43.

Sunrun Stock Performance

The firm's 50 day moving average is $8.11 and its 200-day moving average is $8.37. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -0.53 and a beta of 2.61. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.99 and a current ratio of 1.32.

Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of ($0.22) by $0.42. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The business had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same quarter in the prior year, the firm posted ($0.40) earnings per share. The company's revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In other news, insider Jeanna Steele sold 9,942 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the completion of the sale, the insider now owns 291,238 shares of the company's stock, valued at $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Danny Abajian sold 16,927 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the sale, the chief financial officer now owns 231,279 shares of the company's stock, valued at approximately $1,558,820.46. This trade represents a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,993 shares of company stock valued at $612,979 in the last three months. 3.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Aster Capital Management DIFC Ltd purchased a new position in Sunrun during the fourth quarter worth approximately $29,000. Summit Securities Group LLC acquired a new position in shares of Sunrun during the 4th quarter valued at about $53,000. Union Bancaire Privee UBP SA acquired a new stake in Sunrun during the fourth quarter worth about $56,000. Apollon Wealth Management LLC purchased a new position in Sunrun during the first quarter worth about $60,000. Finally, US Bancorp DE boosted its holdings in Sunrun by 107.6% in the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock valued at $60,000 after purchasing an additional 5,342 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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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