Sunrun (NASDAQ:RUN) Trading Up 4.9% – Here’s Why

Shares of Sunrun Inc. (NASDAQ:RUN) traded up 4.9% during mid-day trading on Monday . The company traded as high as $7.41 and last traded at $7.51. 1,621,494 shares were traded during trading, a decline of 85% from the average session volume of 10,775,120 shares. The stock had previously closed at $7.16.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Roth Capital set a $20.00 price target on shares of Sunrun in a research report on Friday, February 28th. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reduced their price target on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $17.63.

Sunrun Price Performance

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 firm has a market capitalization of $1.57 billion, a P/E ratio of -3.81 and a beta of 2.84. The firm’s 50 day simple moving average is $8.86 and its two-hundred day simple moving average is $12.39.

Insider Activity

In other news, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at approximately $6,264,388.78. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total transaction of $471,000.00. Following the transaction, the director now directly owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,466 shares of company stock valued at $1,607,397. 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 the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Sunrun in the fourth quarter worth about $18,500,000. Principal Financial Group Inc. lifted its holdings in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after buying an additional 367,835 shares during the period. Erste Asset Management GmbH purchased a new stake in Sunrun in the third quarter worth about $76,152,000. Essex Investment Management Co. LLC purchased a new stake in Sunrun in the fourth quarter worth about $403,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Sunrun by 113.5% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after buying an additional 1,337,302 shares during the period. 91.69% of the stock is owned by institutional investors.

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.