Sunrun (NASDAQ:RUN) Trading Up 8.9% Following Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN - Get Free Report)'s share price was up 8.9% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $16.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Sunrun traded as high as $11.46 and last traded at $11.28. Approximately 6,577,456 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 13,501,617 shares. The stock had previously closed at $10.36.

Several other equities analysts have also commented on RUN. 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. KeyCorp upgraded shares of Sunrun from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, July 8th. BNP Paribas raised shares of Sunrun from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 7th. UBS Group decreased their price objective on shares of Sunrun from $17.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Finally, The Goldman Sachs Group lifted their target price on Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $14.22.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 3,668 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $10.80, for a total value of $39,614.40. Following the sale, the insider owned 439,620 shares of the company's stock, valued at $4,747,896. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Danny Abajian sold 8,909 shares of Sunrun stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $96,217.20. Following the transaction, the chief financial officer directly owned 446,797 shares of the company's stock, valued at $4,825,407.60. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,939 shares of company stock valued at $430,264 in the last three months. Company insiders own 3.37% of the company's stock.

Institutional Trading of Sunrun

Hedge funds have recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun during the fourth quarter worth about $29,000. Summit Securities Group LLC bought a new position in shares of Sunrun during the 4th quarter worth approximately $53,000. Apollon Wealth Management LLC acquired a new stake in shares of Sunrun in the first quarter valued at approximately $60,000. US Bancorp DE boosted its holdings in Sunrun by 107.6% during the first quarter. US Bancorp DE now owns 10,307 shares of the energy company's stock worth $60,000 after purchasing an additional 5,342 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in Sunrun by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock worth $64,000 after buying an additional 6,129 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company's stock.

Sunrun Stock Performance

The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -0.88 and a beta of 2.60. The stock's 50 day moving average price is $8.72 and its 200 day moving average price is $8.19. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89.

Sunrun (NASDAQ:RUN - Get Free Report) last announced its quarterly earnings results 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 positive return on equity of 9.42% and a negative net margin of 129.97%. The firm had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The business's revenue was up 10.1% compared to the same quarter last year. Analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current year.

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.