Sunrun (NASDAQ:RUN) Trading Up 8.1% – Should You Buy?

Sunrun Inc. (NASDAQ:RUN) shot up 8.1% during trading on Monday . The company traded as high as $6.85 and last traded at $7.03. 3,609,492 shares were traded during mid-day trading, a decline of 66% from the average session volume of 10,686,312 shares. The stock had previously closed at $6.50.

Analysts Set New Price Targets

Several brokerages have weighed in on RUN. Royal Bank of Canada lowered their target price on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their price objective on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial reiterated a “hold” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a report on Monday, March 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Stock Up 8.1 %

The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The stock has a market cap of $1.59 billion, a PE ratio of -3.84 and a beta of 2.84. The firm has a fifty day moving average of $8.64 and a 200 day moving average of $12.09.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $41,746.12. Following the completion of the sale, the chief financial officer now directly owns 257,969 shares of the company’s stock, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 171,466 shares of company stock worth $1,607,397. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

Several large investors have recently modified their holdings of RUN. Aster Capital Management DIFC Ltd purchased a new position in Sunrun in the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. raised its holdings in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Sunrun in the third quarter valued at about $44,000. Summit Securities Group LLC purchased a new stake in Sunrun in the 4th quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Sunrun during the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.