Sunrun (NASDAQ:RUN) Trading Up 7.9% - Here's What Happened

Key Points

• Sunrun's stock price rose by 7.9% to close at $11.31, with a significant volume drop of 56% from its average trading volume.
• Analysts have generally positive outlooks for Sunrun, with eleven buy ratings and a consensus price target of $14.13.
• In its latest earnings report, Sunrun exceeded expectations with $1.07 EPS, driven by revenue of $569.34 million, marking an 8.7% increase compared to the previous year.

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) shot up 7.9% during trading on Friday . The stock traded as high as $11.52 and last traded at $11.31. 7,370,745 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 16,664,928 shares. The stock had previously closed at $10.48.

Analysts Set New Price Targets

Several brokerages have recently commented on RUN. Wall Street Zen upgraded shares of Sunrun from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. BNP Paribas upgraded shares of Sunrun from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. UBS Group upped their price objective on shares of Sunrun from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Susquehanna upped their price objective on shares of Sunrun from $12.00 to $13.00 and gave the stock a "positive" rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada upgraded shares of Sunrun from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $12.00 to $16.00 in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sunrun has an average rating of "Moderate Buy" and an average target price of $14.63.

Sunrun Stock Performance

The stock's 50-day simple moving average is $9.91 and its 200 day simple moving average is $8.44. 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 company has a market capitalization of $3.61 billion, a PE ratio of -1.34 and a beta of 2.37.

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

Insider Buying and Selling

In other Sunrun news, CRO Paul S. Dickson sold 8,010 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the sale, the executive directly owned 679,044 shares of the company's stock, valued at approximately $7,340,465.64. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alan Ferber sold 10,927 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total transaction of $122,819.48. Following the completion of the sale, the director directly owned 54,947 shares in the company, valued at approximately $617,604.28. This represents a 16.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,866 shares of company stock worth $553,083. Corporate insiders own 3.37% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. acquired a new position in shares of Sunrun in the 2nd quarter valued at $667,000. Marex Group plc acquired a new position in shares of Sunrun in the 2nd quarter valued at $2,948,000. Nomura Holdings Inc. boosted its holdings in shares of Sunrun by 197.0% in the 2nd quarter. Nomura Holdings Inc. now owns 120,612 shares of the energy company's stock valued at $987,000 after buying an additional 244,965 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Sunrun by 9.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 778,902 shares of the energy company's stock valued at $6,371,000 after buying an additional 67,511 shares in the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of Sunrun in the 2nd quarter valued at $117,000. Institutional investors and hedge funds 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.