Sunrun (NASDAQ:RUN) Trading 2.3% Higher - Here's What Happened

Sunrun Inc. (NASDAQ:RUN - Get Free Report) shares were up 2.3% on Friday . The company traded as high as $7.03 and last traded at $7.01. Approximately 1,464,837 shares traded hands during trading, a decline of 87% from the average daily volume of 11,691,601 shares. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RUN shares. Wall Street Zen upgraded shares of Sunrun to a "sell" rating in a research report on Thursday, May 8th. TD Cowen lowered their price target on shares of Sunrun from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Glj Research upgraded shares of Sunrun from a "strong sell" rating to a "hold" rating and set a $7.78 price target on the stock in a research report on Friday. Morgan Stanley restated an "equal weight" rating and set a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group lowered their price target on shares of Sunrun from $7.00 to $6.00 and set a "hold" rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Sunrun presently has a consensus rating of "Hold" and a consensus price target of $14.15.

Sunrun Stock Up 7.2%

The business's 50 day moving average price is $7.61 and its 200-day moving average price is $8.61. The firm has a market capitalization of $1.68 billion, a PE ratio of -4.03 and a beta of 2.66. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Sunrun (NASDAQ:RUN - Get Free Report) last released its quarterly 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. The business had revenue of $504.27 million for the quarter, compared to the consensus estimate of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business's revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. As a group, equities research analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current year.

Insider Activity

In related news, CEO Mary Powell sold 31,197 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $210,267.78. Following the sale, the chief executive officer now directly owns 534,615 shares of the company's stock, valued at $3,603,305.10. This represents a 5.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 19,343 shares of the company'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 transaction of $130,371.82. Following the sale, the executive now directly owns 399,729 shares in the company, valued at approximately $2,694,173.46. The trade was a 4.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,540 shares of company stock valued at $595,944. Company insiders own 3.37% of the company's stock.

Institutional Investors Weigh In On Sunrun

Several large investors have recently added to or reduced their stakes in RUN. Focus Partners Wealth grew its holdings in Sunrun by 21.2% during the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company's stock worth $74,000 after acquiring an additional 2,226 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Sunrun by 14.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 760,758 shares of the energy company's stock worth $4,458,000 after acquiring an additional 98,547 shares in the last quarter. United Services Automobile Association acquired a new position in Sunrun during the 1st quarter worth approximately $87,000. Caxton Associates LLP acquired a new position in Sunrun during the 1st quarter worth approximately $2,045,000. Finally, Goldman Sachs Group Inc. grew its holdings in Sunrun by 45.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,306,808 shares of the energy company's stock worth $13,518,000 after acquiring an additional 718,955 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.