Sunrun (NASDAQ:RUN) Stock Price Up 5.5% – Still a Buy?

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 5.5% during trading on Friday. The company traded as high as $8.22 and last traded at $8.2050. 5,017,545 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 9,342,972 shares. The stock had previously closed at $7.78.

Analysts Set New Price Targets

A number of brokerages recently commented on RUN. Citigroup lowered their price target on shares of Sunrun from $20.00 to $16.00 and set a “buy” rating for the company in a report on Friday, August 7th. Roth Capital reaffirmed a “buy” rating on shares of Sunrun in a research note on Thursday, July 9th. Zacks Research downgraded Sunrun from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Susquehanna dropped their price objective on shares of Sunrun from $18.00 to $15.00 and set a “positive” rating for the company in a research note on Friday, August 7th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Sunrun presently has an average rating of “Hold” and a consensus target price of $16.70.

Sunrun Stock Performance

The firm has a market cap of $1.98 billion, a PE ratio of 5.52 and a beta of 2.37. The business has a 50 day simple moving average of $9.44 and a two-hundred day simple moving average of $11.89. The company has a quick ratio of 1.00, a current ratio of 1.42 and a debt-to-equity ratio of 3.34.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $869.99 million during the quarter, compared to analyst estimates of $746.87 million. Sunrun had a net margin of 11.59% and a return on equity of 9.59%. The business’s revenue was up 52.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, equities research analysts forecast that Sunrun Inc. will post 1.19 earnings per share for the current fiscal year.

Insider Activity at Sunrun

In other news, CEO Mary Powell sold 23,985 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $13.19, for a total transaction of $316,362.15. Following the transaction, the chief executive officer directly owned 1,111,535 shares of the company’s stock, valued at approximately $14,661,146.65. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $9.96, for a total transaction of $498,000.00. Following the sale, the director directly owned 367,405 shares of the company’s stock, valued at $3,659,353.80. This represents a 11.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 171,015 shares of company stock worth $2,111,653 over the last ninety days. 3.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sunrun in the 4th quarter worth $27,000. Hantz Financial Services Inc. increased its stake in shares of Sunrun by 59.1% during the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock valued at $28,000 after buying an additional 564 shares during the period. Allworth Financial LP bought a new stake in shares of Sunrun in the second quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in shares of Sunrun in the first quarter valued at about $36,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Sunrun by 50.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 3,000 shares of the energy company’s stock worth $55,000 after acquiring an additional 1,000 shares during the period. 91.69% of the stock is owned by institutional investors.

Sunrun Company Profile

Sunrun Inc is a provider of residential solar energy and battery-storage solutions. The company designs, sells, installs, owns and maintains solar energy systems for homeowners, helping customers generate electricity on-site and reduce reliance on conventional utility power.

Sunrun offers solar systems through customer purchase arrangements as well as subscription-based plans, including leases and power purchase agreements. Under these arrangements, Sunrun may retain ownership of the system and provide ongoing monitoring, maintenance and customer support.