Sunrun (NASDAQ:RUN) Shares Gap Up to $10.95

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $10.95, but opened at $11.61. Sunrun shares last traded at $12.24, with a volume of 4,910,801 shares traded.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Sunrun from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Janney Montgomery Scott cut Sunrun from a “buy” rating to a “neutral” rating in a report on Tuesday, February 27th. Oppenheimer reissued an “outperform” rating and set a $19.00 price objective on shares of Sunrun in a research note on Thursday, February 22nd. Royal Bank of Canada reduced their price target on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, The Goldman Sachs Group upped their price objective on shares of Sunrun from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.26.

Sunrun Price Performance

The company has a 50 day moving average of $11.35 and a 200 day moving average of $13.11. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -1.67 and a beta of 2.50.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.20). The company had revenue of $516.59 million for the quarter, compared to analyst estimates of $499.74 million. Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. As a group, equities research analysts anticipate that Sunrun Inc. will post -1.69 EPS for the current year.

Insider Buying and Selling

In other Sunrun news, Director Alan Ferber bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $97,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Edward Harris Fenster sold 172,920 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $11.95, for a total value of $2,066,394.00. Following the completion of the sale, the director now directly owns 1,261,317 shares of the company’s stock, valued at $15,072,738.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ferber bought 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $97,300. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 301,760 shares of company stock worth $3,615,990. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Fifth Third Bancorp boosted its stake in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after buying an additional 764 shares during the period. Retirement Systems of Alabama grew its holdings in shares of Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after buying an additional 833 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock worth $1,837,000 after buying an additional 910 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after buying an additional 938 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in shares of Sunrun by 18.7% during the first quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after buying an additional 1,010 shares during 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.