Sunrun (NASDAQ:RUN) Stock Price Up 7.2% – Should You Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) traded up 7.2% on Thursday . The company traded as high as $10.04 and last traded at $9.92. 2,203,485 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 11,560,361 shares. The stock had previously closed at $9.25.

Analysts Set New Price Targets

A number of research firms have issued reports on RUN. Oppenheimer cut their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and issued a $12.00 price target (down from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Barclays cut their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Roth Mkm decreased their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Sunrun has an average rating of “Hold” and a consensus target price of $19.21.

Sunrun Trading Up 4.9 %

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The stock has a 50-day moving average price of $11.05 and a two-hundred day moving average price of $14.81. The stock has a market cap of $2.40 billion, a PE ratio of -5.88 and a beta of 2.54.

Insider Buying and Selling at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total value of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares in the company, valued at approximately $9,813,313.26. This trade represents a 4.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mary Powell sold 6,415 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $104,821.10. Following the sale, the chief executive officer now directly owns 569,368 shares of the company’s stock, valued at $9,303,473.12. The trade was a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,691 shares of company stock worth $2,011,601 in the last quarter. 3.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after buying an additional 367,835 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Sunrun in the third quarter valued at approximately $896,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun in the 3rd quarter valued at $44,000. Virtu Financial LLC acquired a new stake in shares of Sunrun during the third quarter worth about $482,000. Finally, TCW Group Inc. acquired a new stake in Sunrun during the 3rd quarter worth approximately $218,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.