Sunrun (NASDAQ:RUN) Shares Up 4.9% – Still a Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) traded up 4.9% during mid-day trading on Thursday . The company traded as high as $9.68 and last traded at $9.60. 2,636,835 shares traded hands during trading, a decline of 77% from the average session volume of 11,639,706 shares. The stock had previously closed at $9.15.

Analyst Ratings Changes

RUN has been the topic of a number of recent research reports. Glj Research reaffirmed a “sell” rating and issued a $7.78 target price on shares of Sunrun in a report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Jefferies Financial Group cut their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company lowered their price target on Sunrun from $20.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Finally, Truist Financial reiterated a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.21.

Sunrun Stock Up 8.1 %

The company’s 50-day moving average is $12.09 and its 200 day moving average is $15.12. The stock has a market capitalization of $2.21 billion, a PE ratio of -5.42 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insiders Place Their Bets

In other news, CFO Danny Abajian sold 4,869 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the sale, the chief financial officer now owns 269,393 shares in the company, valued at $4,404,575.55. This represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeanna Steele sold 2,624 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the transaction, the insider now owns 305,636 shares of the company’s stock, valued at $4,997,148.60. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,691 shares of company stock valued at $2,011,601. 3.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its holdings in Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after buying an additional 1,638 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun in the second quarter valued at approximately $36,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Sunrun in the third quarter worth approximately $44,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sunrun during the second quarter worth approximately $45,000. 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.