Sunrun (NASDAQ:RUN) Shares Gap Up – Should You Buy?

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up prior to trading on Monday . The stock had previously closed at $14.37, but opened at $15.34. Sunrun shares last traded at $15.67, with a volume of 2,046,292 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Truist Financial reiterated a “hold” rating and set a $18.00 target price (up from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. Barclays cut their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Sunrun from $12.00 to $16.50 and gave the stock a “hold” rating in a research note on Thursday, August 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $20.00 price target on shares of Sunrun in a research report on Wednesday, September 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $35.00 target price on shares of Sunrun in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.79.

Sunrun Stock Down 2.0 %

The company has a fifty day moving average price of $17.68 and a 200-day moving average price of $15.27. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The firm has a market capitalization of $3.13 billion, a PE ratio of -2.12 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.41%. The business had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. During the same quarter last year, the business earned $0.25 earnings per share. Sunrun’s quarterly revenue was down 11.2% compared to the same quarter last year. As a group, analysts expect that Sunrun Inc. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the sale, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Mary Powell sold 6,415 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $104,821.10. Following the transaction, the chief executive officer now directly owns 569,368 shares in the company, valued at approximately $9,303,473.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $14.60, for a total transaction of $730,000.00. Following the completion of the sale, the director now directly owns 1,142,446 shares of the company’s stock, valued at approximately $16,679,711.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,001 shares of company stock worth $3,220,345. Corporate insiders own 3.76% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp grew its position in Sunrun by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after acquiring an additional 886 shares during the last quarter. Diversify Wealth Management LLC grew its holdings in shares of Sunrun by 21.0% in the third quarter. Diversify Wealth Management LLC now owns 257,235 shares of the energy company’s stock worth $4,646,000 after purchasing an additional 44,639 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Sunrun in the third quarter worth about $255,000. First Trust Direct Indexing L.P. increased its stake in Sunrun by 21.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after buying an additional 3,676 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sunrun by 55.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,000 shares of the energy company’s stock valued at $2,312,000 after buying an additional 44,846 shares in the last quarter. 91.69% of the stock is currently 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.