Sunrun (NASDAQ:RUN) Trading 6.7% Higher – Should You Buy?

Sunrun Inc. (NASDAQ:RUN) shares shot up 6.7% during mid-day trading on Tuesday . The company traded as high as $6.13 and last traded at $6.25. 2,738,559 shares changed hands during trading, a decline of 74% from the average session volume of 10,564,136 shares. The stock had previously closed at $5.86.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Roth Capital set a $20.00 target price on Sunrun in a report on Friday, February 28th. The Goldman Sachs Group reduced their price objective on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. UBS Group dropped their target price on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Jefferies Financial Group cut shares of Sunrun from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $8.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Sunrun currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Trading Up 11.9 %

The company has a market capitalization of $1.48 billion, a P/E ratio of -3.61 and a beta of 2.84. 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 firm’s 50-day moving average price is $7.82 and its 200 day moving average price is $11.11.

Insider Transactions at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the company’s 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 $33,182.24. Following the completion of the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,466 shares of company stock valued at $1,136,397 over the last ninety days. 3.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new stake in shares of Sunrun during the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. grew its position 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 valued at $32,000 after buying an additional 2,000 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Sunrun during the third quarter worth about $44,000. Summit Securities Group LLC bought a new stake in Sunrun in the fourth quarter worth about $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Sunrun in the fourth quarter valued at about $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.