Sunrun (NASDAQ:RUN) Shares Up 4.3% Following Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN)’s share price rose 4.3% during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $12.00 to $15.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as high as $11.72 and last traded at $11.78. Approximately 876,302 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 11,080,615 shares. The stock had previously closed at $11.29.

RUN has been the subject of a number of other research reports. Jefferies Financial Group lowered Sunrun from a “buy” rating to a “hold” rating and lowered their price objective for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. BMO Capital Markets lowered their price objective on Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Truist Financial restated a “hold” rating and set a $6.00 price objective (down previously from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. TD Cowen lowered their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, UBS Group reiterated a “buy” rating and issued a $17.00 target price on shares of Sunrun in a research report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.92.

Insider Buying and Selling at Sunrun

In related news, CFO Danny Abajian sold 16,927 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the sale, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward Harris Fenster bought 50,000 shares of Sunrun stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $10.87 per share, with a total value of $543,500.00. Following the completion of the transaction, the director now directly owns 1,408,182 shares in the company, valued at approximately $15,306,938.34. This trade represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 88,540 shares of company stock valued at $595,944. 3.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in Sunrun in the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. boosted its holdings in Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after purchasing an additional 2,000 shares during the period. Summit Securities Group LLC bought a new position in Sunrun in the 4th quarter valued at $53,000. Union Bancaire Privee UBP SA bought a new position in Sunrun in the 4th quarter valued at $56,000. Finally, Apollon Wealth Management LLC bought a new position in Sunrun in the 1st quarter valued at $60,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

Sunrun Stock Performance

The company’s fifty day simple moving average is $7.48 and its 200 day simple moving average is $8.89. 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 capitalization of $2.64 billion, a P/E ratio of -6.34 and a beta of 2.66.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 7th. The energy company reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.42. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The firm had revenue of $504.27 million during the quarter, compared to the consensus estimate of $487.29 million. During the same period last year, the firm earned ($0.40) EPS. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.