Sunrun (NASDAQ:RUN) Stock Price Up 5.7% – Time to Buy?

Sunrun Inc. (NASDAQ:RUN) shares shot up 5.7% during mid-day trading on Thursday . The stock traded as high as $10.92 and last traded at $10.86. 5,646,296 shares changed hands during trading, a decline of 53% from the average session volume of 12,002,173 shares. The stock had previously closed at $10.27.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RUN. Oppenheimer reduced their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Susquehanna reduced their price objective on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating for the company in a report on Wednesday, October 16th. Morgan Stanley reduced their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a report on Friday. UBS Group upped their price objective on shares of Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Sunrun presently has an average rating of “Hold” and an average price target of $20.12.

Sunrun Trading Down 9.3 %

The company has a fifty day simple moving average of $15.70 and a 200-day simple moving average of $15.39. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -5.43 and a beta of 2.61.

Insiders Place Their Bets

In other news, Director Gerald Alan Risk sold 9,045 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $20.04, for a total value of $181,261.80. Following the transaction, the director now owns 334,761 shares in the company, valued at $6,708,610.44. This represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the transaction, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. This represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 155,840 shares of company stock worth $2,755,487. Company insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its stake in shares of 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 valued at $31,000 after buying an additional 1,638 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after buying an additional 1,465 shares in the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of Sunrun in the 2nd quarter valued at approximately $36,000. CWM LLC grew its stake in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after buying an additional 3,014 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Sunrun in the 2nd quarter valued at approximately $45,000. Institutional investors and hedge funds 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.