Sunrun (NASDAQ:RUN) Trading Up 10% - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shot up 10% during mid-day trading on Tuesday . The company traded as high as $9.03 and last traded at $9.00. 14,833,119 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 13,181,174 shares. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered Sunrun from a "hold" rating to an "underperform" rating and dropped their target price for the company from $6.00 to $5.00 in a research report on Wednesday, June 11th. KeyCorp reaffirmed an "underweight" rating and issued a $6.00 price objective on shares of Sunrun in a report on Tuesday, June 17th. Truist Financial reiterated 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. Morgan Stanley reiterated an "equal weight" rating and set a $11.00 price objective on shares of Sunrun in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Sunrun from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $13.26.

Sunrun Trading Up 10.4%

The company's 50-day moving average is $8.18 and its 200 day moving average is $8.17. The company has a current ratio of 1.32, a quick ratio of 0.99 and a debt-to-equity ratio of 3.89. The firm has a market cap of $2.06 billion, a PE ratio of -0.74 and a beta of 2.61.

Sunrun (NASDAQ:RUN - Get Free Report) last released its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. During the same quarter in the prior year, the company earned ($0.40) earnings per share. The company's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict that Sunrun Inc. will post -0.43 EPS for the current year.

Insider Activity at Sunrun

In other news, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $130,371.82. Following the transaction, the executive owned 399,729 shares of the company's stock, valued at $2,694,173.46. This trade represents a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 16,927 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $114,087.98. Following the transaction, the chief financial officer owned 231,279 shares of the company's stock, valued at approximately $1,558,820.46. The trade was a 6.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,993 shares of company stock worth $612,979 over the last quarter. 3.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Sunrun by 14.7% in the 1st quarter. GAMMA Investing LLC now owns 12,269 shares of the energy company's stock valued at $72,000 after acquiring an additional 1,571 shares in the last quarter. Alterna Wealth Management Inc. boosted its position in Sunrun by 16.6% in the 1st quarter. Alterna Wealth Management Inc. now owns 12,075 shares of the energy company's stock valued at $71,000 after buying an additional 1,720 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Sunrun by 6.8% in the 4th quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company's stock valued at $253,000 after buying an additional 1,749 shares during the period. Xponance Inc. lifted its position in Sunrun by 13.2% during the 4th quarter. Xponance Inc. now owns 16,265 shares of the energy company's stock valued at $150,000 after purchasing an additional 1,895 shares during the period. Finally, Scotia Capital Inc. grew its position in shares of Sunrun by 17.7% during the 4th quarter. Scotia Capital Inc. now owns 14,377 shares of the energy company's stock worth $133,000 after buying an additional 2,157 shares during the period. 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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