Sunrun (NASDAQ:RUN) Trading Up 5.8%

Sunrun Inc. (NASDAQ:RUN)’s stock price rose 5.8% during mid-day trading on Thursday . The stock traded as high as $13.53 and last traded at $13.44. Approximately 5,591,291 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 13,029,564 shares. The stock had previously closed at $12.70.

Analyst Ratings Changes

Several equities analysts recently weighed in on RUN shares. Mizuho cut their price target on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Susquehanna decreased their target price on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating for the company in a research report on Thursday, May 9th. Morgan Stanley increased their price target on Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Jefferies Financial Group reduced their price objective on Sunrun from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Royal Bank of Canada lowered their target price on Sunrun from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.47.

Sunrun Price Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of -1.78 and a beta of 2.65. The company has a 50 day moving average of $12.48 and a 200 day moving average of $13.60.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The firm had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. During the same quarter last year, the company earned ($1.12) earnings per share. The firm’s revenue was down 22.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Sunrun Inc. will post -1.27 EPS for the current year.

Insider Activity at Sunrun

In other Sunrun news, Director Edward Harris Fenster sold 44,646 shares of Sunrun stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $15.91, for a total transaction of $710,317.86. Following the completion of the sale, the director now directly owns 1,207,423 shares of the company’s stock, valued at approximately $19,210,099.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Edward Harris Fenster sold 44,646 shares of Sunrun stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $15.91, for a total transaction of $710,317.86. Following the sale, the director now directly owns 1,207,423 shares in the company, valued at approximately $19,210,099.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary Powell sold 22,549 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the transaction, the chief executive officer now directly owns 379,768 shares in the company, valued at approximately $4,583,799.76. The disclosure for this sale can be found here. Insiders have sold 427,143 shares of company stock valued at $5,502,579 over the last quarter. 3.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its holdings in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares during the period. Retirement Systems of Alabama grew its holdings in Sunrun by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after buying an additional 833 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of Sunrun by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after acquiring an additional 910 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Sunrun by 41.9% during the 4th quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock worth $62,000 after acquiring an additional 938 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Sunrun by 18.7% in the first quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after acquiring an additional 1,010 shares during the last quarter. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.