Sunrun (NASDAQ:RUN) Shares Gap Up – Still a Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up before the market opened on Wednesday . The stock had previously closed at $18.47, but opened at $19.80. Sunrun shares last traded at $20.19, with a volume of 2,446,204 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RUN. Deutsche Bank Aktiengesellschaft set a $19.00 target price on Sunrun in a report on Wednesday, January 7th. TD Cowen increased their target price on Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. boosted their price target on Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley raised their target price on shares of Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 2nd. Finally, BMO Capital Markets set a $19.00 price objective on Sunrun and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average target price of $19.99.

Sunrun Stock Performance

The company has a current ratio of 1.46, a quick ratio of 1.06 and a debt-to-equity ratio of 3.67. The firm’s fifty day moving average is $18.70 and its 200 day moving average is $17.29. The company has a market cap of $4.63 billion, a PE ratio of -1.79 and a beta of 2.36.

Sunrun (NASDAQ:RUN) last released its earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $724.56 million during the quarter, compared to analysts’ expectations of $601.15 million. Sunrun had a negative net margin of 106.50% and a positive return on equity of 19.34%. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.37) earnings per share. As a group, research analysts predict that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CAO Maria Barak sold 1,630 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $18.55, for a total transaction of $30,236.50. Following the completion of the sale, the chief accounting officer directly owned 85,643 shares in the company, valued at approximately $1,588,677.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Paul S. Dickson sold 6,119 shares of the company’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $17.80, for a total transaction of $108,918.20. Following the sale, the executive directly owned 639,110 shares of the company’s stock, valued at $11,376,158. The trade was a 0.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 354,956 shares of company stock valued at $6,634,832. Insiders own 3.37% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Sunrun by 156.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock worth $27,000 after buying an additional 885 shares during the last quarter. Sycomore Asset Management purchased a new position in Sunrun in the third quarter worth approximately $28,000. Optiver Holding B.V. acquired a new stake in Sunrun during the third quarter worth $31,000. Salomon & Ludwin LLC increased its stake in Sunrun by 49.2% during the fourth quarter. Salomon & Ludwin LLC now owns 1,693 shares of the energy company’s stock worth $31,000 after acquiring an additional 558 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Sunrun by 181.0% in the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after purchasing an additional 2,660 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.