Sunrun (NASDAQ:RUN) Trading 8.9% Higher After Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN) shares traded up 8.9% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $13.00 to $16.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Sunrun traded as high as $11.46 and last traded at $11.28. 6,577,456 shares were traded during mid-day trading, a decline of 51% from the average session volume of 13,501,617 shares. The stock had previously closed at $10.36.

Several other analysts have also issued reports on the company. Wall Street Zen upgraded Sunrun from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group cut their price objective on Sunrun from $17.00 to $12.00 and set a “buy” rating for the company in a report on Friday, May 30th. Mizuho increased their price objective on Sunrun from $13.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $11.00 price objective on shares of Sunrun in a report on Wednesday, April 23rd. Finally, BMO Capital Markets lowered Sunrun from a “hold” rating to a “strong sell” rating and cut their price objective for the stock from $9.00 to $4.00 in a report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.22.

Insider Buying and Selling

In related news, CRO Paul S. Dickson sold 8,010 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.81, for a total value of $86,588.10. Following the completion of the sale, the executive owned 679,044 shares in the company, valued at approximately $7,340,465.64. This trade represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary Powell sold 11,509 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $10.80, for a total transaction of $124,297.20. Following the completion of the sale, the chief executive officer owned 893,240 shares of the company’s stock, valued at approximately $9,646,992. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,939 shares of company stock valued at $430,264 in the last quarter. Insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently made changes to their positions in RUN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sunrun by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after purchasing an additional 52,176 shares during the period. KLP Kapitalforvaltning AS bought a new position in Sunrun during the fourth quarter worth about $402,000. Charles Schwab Investment Management Inc. lifted its stake in Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after purchasing an additional 155,311 shares during the period. Sowell Financial Services LLC bought a new position in shares of Sunrun in the first quarter valued at approximately $273,000. Finally, Greenvale Capital LLP raised its stake in shares of Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Up 3.3%

The business’s 50 day moving average price is $8.86 and its 200-day moving average price is $8.21. The company has a debt-to-equity ratio of 3.89, a current ratio of 1.32 and a quick ratio of 0.99. The company has a market cap of $2.44 billion, a P/E ratio of -0.88 and a beta of 2.60.

Sunrun (NASDAQ:RUN) last posted its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The company had revenue of $504.27 million during the quarter, compared to analysts’ expectations of $487.29 million. During the same quarter in the previous year, the company posted ($0.40) earnings per share. Sunrun’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts anticipate that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

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.