Sunrun (NASDAQ:RUN) Trading Up 4% - Here's What Happened

Shares of Sunrun Inc. (NASDAQ:RUN - Get Free Report) were up 4% on Friday . The stock traded as high as $7.27 and last traded at $7.34. Approximately 1,664,271 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 10,693,745 shares. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RUN. Wells Fargo & Company decreased their price target on shares of Sunrun from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. Susquehanna lowered their target price on Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a report on Monday, April 14th. BMO Capital Markets dropped their target price on Sunrun from $11.00 to $9.00 and set a "market perform" rating on the stock in a research note on Monday, March 3rd. Citigroup restated a "neutral" rating and issued a $7.00 price objective on shares of Sunrun in a research note on Thursday, April 17th. Finally, Barclays cut their target price on shares of Sunrun from $18.00 to $15.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.92.

Sunrun Stock Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -3.79 and a beta of 2.74. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm has a fifty day moving average of $6.79 and a 200-day moving average of $9.40.

Insider Activity

In other Sunrun news, CRO Paul S. Dickson sold 19,343 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $130,371.82. Following the sale, the executive now directly owns 399,729 shares of the company's stock, valued at approximately $2,694,173.46. This trade represents a 4.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total transaction of $455,000.00. Following the transaction, the director now directly owns 941,753 shares of the company's stock, valued at $8,569,952.30. This trade represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,540 shares of company stock worth $1,050,944 over the last ninety days. 3.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Alps Advisors Inc. lifted its position in shares of Sunrun by 3.0% during the first quarter. Alps Advisors Inc. now owns 346,557 shares of the energy company's stock worth $2,031,000 after purchasing an additional 9,938 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Sunrun by 8.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 35,399 shares of the energy company's stock valued at $209,000 after acquiring an additional 2,778 shares in the last quarter. 49 Wealth Management LLC raised its stake in shares of Sunrun by 21.1% in the 1st quarter. 49 Wealth Management LLC now owns 14,759 shares of the energy company's stock worth $86,000 after buying an additional 2,567 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Sunrun during the first quarter worth about $88,000. Finally, Principal Financial Group Inc. raised its position in Sunrun by 2.7% in the first quarter. Principal Financial Group Inc. now owns 1,116,909 shares of the energy company's stock worth $6,545,000 after acquiring an additional 29,227 shares in the last quarter. Hedge funds and other institutional investors own 91.69% of the company's stock.

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.