Sunrun (NASDAQ:RUN) Trading Up 8.1% – Here’s What Happened

Shares of Sunrun Inc. (NASDAQ:RUN) traded up 8.1% on Monday . The stock traded as high as $6.85 and last traded at $7.03. 3,609,492 shares were traded during trading, a decline of 66% from the average session volume of 10,686,312 shares. The stock had previously closed at $6.50.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RUN shares. Truist Financial reiterated a “hold” rating and issued a $9.00 price target (down from $12.00) on shares of Sunrun in a research note on Monday, March 3rd. Barclays decreased their price target on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. TD Cowen dropped their price objective on shares of Sunrun from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group lowered Sunrun from a “buy” rating to a “hold” rating and reduced their target price for the stock from $14.00 to $8.00 in a research note on Wednesday, March 12th. Finally, Wells Fargo & Company dropped their price target on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.20.

Sunrun Stock Up 8.1 %

The company has a market cap of $1.59 billion, a price-to-earnings ratio of -3.84 and a beta of 2.84. The business has a fifty day moving average of $8.64 and a two-hundred day moving average of $12.09. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 2,968 shares of Sunrun stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the sale, the executive now owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward Harris Fenster bought 150,000 shares of Sunrun stock in a transaction dated Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the completion of the transaction, the director now directly owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 171,466 shares of company stock valued at $1,607,397 in the last three months. 3.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Sunrun by 5.8% in the 4th quarter. CIBC Asset Management Inc now owns 24,774 shares of the energy company’s stock valued at $229,000 after purchasing an additional 1,360 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in Sunrun by 6.8% in the fourth quarter. Guggenheim Capital LLC now owns 27,321 shares of the energy company’s stock valued at $253,000 after acquiring an additional 1,749 shares during the last quarter. Drive Wealth Management LLC grew its position in Sunrun by 4.5% in the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock worth $782,000 after acquiring an additional 1,884 shares during the period. Xponance Inc. grew its position in Sunrun by 13.2% in the fourth quarter. Xponance Inc. now owns 16,265 shares of the energy company’s stock worth $150,000 after acquiring an additional 1,895 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its stake 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 worth $32,000 after acquiring an additional 2,000 shares during the last quarter. 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.