Sunrun (NASDAQ:RUN) Shares Up 11.4% After Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN) shares rose 11.4% during trading on Monday after Guggenheim upgraded the stock from a neutral rating to a buy rating. Guggenheim now has a $27.00 price target on the stock. Sunrun traded as high as $19.47 and last traded at $19.0860. Approximately 9,233,896 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 15,296,972 shares. The stock had previously closed at $17.13.

A number of other brokerages have also recently commented on RUN. Oppenheimer lifted their price target on Sunrun from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. The Goldman Sachs Group lifted their target price on shares of Sunrun from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on shares of Sunrun from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Cowen restated a “buy” rating on shares of Sunrun in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.86.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 11,699 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $19.34, for a total value of $226,258.66. Following the completion of the transaction, the chief executive officer directly owned 876,590 shares of the company’s stock, valued at $16,953,250.60. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Paul S. Dickson sold 12,493 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $20.02, for a total transaction of $250,109.86. Following the completion of the sale, the executive owned 647,600 shares of the company’s stock, valued at $12,964,952. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 316,956 shares of company stock worth $5,952,165. 3.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. bought a new stake in shares of Sunrun during the third quarter valued at approximately $31,000. Federated Hermes Inc. purchased a new position in Sunrun during the third quarter valued at $49,000. Smartleaf Asset Management LLC lifted its position in Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock valued at $34,000 after buying an additional 2,660 shares during the period. Spire Wealth Management boosted its holdings in shares of Sunrun by 960.0% during the 2nd quarter. Spire Wealth Management now owns 5,300 shares of the energy company’s stock valued at $43,000 after buying an additional 4,800 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Sunrun by 87.1% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 5,800 shares of the energy company’s stock worth $47,000 after buying an additional 2,700 shares during the period. Institutional investors own 91.69% of the company’s stock.

Sunrun Stock Up 7.1%

The company has a debt-to-equity ratio of 3.70, a quick ratio of 1.02 and a current ratio of 1.41. The stock’s 50-day moving average price is $18.48 and its two-hundred day moving average price is $13.00. The stock has a market capitalization of $4.23 billion, a PE ratio of -1.58 and a beta of 2.35.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. The business had revenue of $724.56 million for the quarter, compared to analyst estimates of $601.15 million. Sunrun had a negative net margin of 120.59% and a positive return on equity of 14.19%. Sunrun’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.37) earnings per share. As a group, analysts expect that Sunrun Inc. will post -0.43 EPS 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.