Sunrun (NASDAQ:RUN) Releases Earnings Results, Beats Expectations By $0.05 EPS

Sunrun (NASDAQ:RUN) released its quarterly earnings data on Thursday. The energy company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05, Zacks reports. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. Sunrun’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.37) EPS.

Sunrun Stock Down 16.1%

Shares of RUN traded down $3.29 during midday trading on Friday, hitting $17.13. The stock had a trading volume of 24,978,098 shares, compared to its average volume of 15,329,357. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of -1.48 and a beta of 2.35. The company has a 50 day simple moving average of $18.43 and a two-hundred day simple moving average of $12.83. Sunrun has a twelve month low of $5.38 and a twelve month high of $22.44. The company has a debt-to-equity ratio of 3.70, a current ratio of 1.41 and a quick ratio of 1.02.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group raised shares of Sunrun from a “hold” rating to a “buy” rating and upped their target price for the company from $11.00 to $21.00 in a research note on Wednesday, October 1st. UBS Group boosted their price target on shares of Sunrun from $16.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Morgan Stanley set a $20.00 price objective on Sunrun in a research note on Thursday, October 16th. JPMorgan Chase & Co. lifted their target price on Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Cowen reissued a “buy” rating on shares of Sunrun in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.99.

Insider Activity at Sunrun

In other news, Director Alan Ferber sold 10,927 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $11.24, for a total transaction of $122,819.48. Following the completion of the transaction, the director directly owned 54,947 shares of the company’s stock, valued at $617,604.28. This trade represents a 16.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 25,614 shares of Sunrun stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $20.00, for a total transaction of $512,280.00. Following the completion of the sale, the executive owned 655,734 shares in the company, valued at $13,114,680. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 316,956 shares of company stock valued at $5,952,165 over the last ninety days. Company insiders own 3.37% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in Sunrun by 181.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after buying an additional 2,660 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Sunrun by 21.2% in the 1st quarter. Focus Partners Wealth now owns 12,702 shares of the energy company’s stock valued at $74,000 after acquiring an additional 2,226 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Sunrun in the 2nd quarter valued at about $117,000. United Services Automobile Association acquired a new stake in shares of Sunrun in the first quarter valued at about $87,000. Finally, U S Wealth Group LLC. raised its holdings in Sunrun by 44.4% during the second quarter. U S Wealth Group LLC. now owns 20,807 shares of the energy company’s stock worth $170,000 after acquiring an additional 6,400 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.