Sunrun (NASDAQ:RUN) Stock Price Up 9.5% – Still a Buy?

Sunrun Inc. (NASDAQ:RUN) shot up 9.5% on Monday . The stock traded as high as $11.56 and last traded at $11.51. 8,027,695 shares traded hands during trading, a decline of 33% from the average session volume of 11,965,199 shares. The stock had previously closed at $10.51.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Piper Sandler lowered Sunrun from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $11.00 in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Susquehanna cut their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.49.

Sunrun Price Performance

The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -6.33 and a beta of 2.61. The business has a 50-day moving average price of $14.72 and a two-hundred day moving average price of $15.41. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 9,694 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $19.75, for a total transaction of $191,456.50. Following the completion of the sale, the chief financial officer now directly owns 278,260 shares of the company’s stock, valued at $5,495,635. This trade represents a 3.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mary Powell sold 2,148 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.79, for a total transaction of $40,360.92. Following the completion of the transaction, the chief executive officer now directly owns 579,193 shares in the company, valued at $10,883,036.47. This trade represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 196,795 shares of company stock valued at $3,071,225. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Several hedge funds have recently added to or reduced their stakes in RUN. Vanguard Group Inc. grew its stake in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Sunrun by 35.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 259,789 shares of the energy company’s stock worth $3,423,000 after buying an additional 67,761 shares during the period. Axxcess Wealth Management LLC purchased a new position in Sunrun in the 1st quarter valued at approximately $171,000. Price T Rowe Associates Inc. MD grew its stake in Sunrun by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 215,836 shares of the energy company’s stock valued at $2,845,000 after buying an additional 2,056 shares in the last quarter. Finally, Bayesian Capital Management LP raised its holdings in Sunrun by 169.4% during the 1st quarter. Bayesian Capital Management LP now owns 99,302 shares of the energy company’s stock valued at $1,309,000 after acquiring an additional 62,443 shares during the period. 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.