Sunrun (NASDAQ:RUN) Shares Gap Up – Time to Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Tuesday . The stock had previously closed at $10.97, but opened at $11.35. Sunrun shares last traded at $11.81, with a volume of 1,881,660 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RUN shares. Morgan Stanley dropped their price objective on Sunrun from $35.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Truist Financial reissued a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Jefferies Financial Group dropped their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets decreased their price objective on Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, November 11th. Finally, Susquehanna cut their target price on Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.31.

Sunrun Stock Up 5.2 %

The company has a market cap of $2.59 billion, a P/E ratio of -6.34 and a beta of 2.58. The stock has a 50-day moving average of $10.98 and a two-hundred day moving average of $14.82. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the transaction, the director now directly owns 1,092,446 shares of the company’s stock, valued at $10,858,913.24. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 151,766 shares of company stock valued at $1,718,592 over the last three months. Insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. International Assets Investment Management LLC lifted 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 period. Blue Trust Inc. raised its holdings in Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun in the 3rd quarter worth about $44,000. Redwood Wealth Management Group LLC bought a new stake in shares of Sunrun during the 2nd quarter valued at about $56,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Sunrun during the second quarter valued at about $104,000. 91.69% of the stock is owned by 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.