Sunrun (NASDAQ:RUN) Shares Up 5.6% – Time to Buy?

Sunrun Inc. (NASDAQ:RUN) shares shot up 5.6% during mid-day trading on Thursday . The stock traded as high as $8.78 and last traded at $8.93. 4,728,571 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 10,179,759 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

Several brokerages have weighed in on RUN. Glj Research reaffirmed a “sell” rating and set a $7.78 target price on shares of Sunrun in a research note on Thursday, November 7th. Morgan Stanley lowered their price objective on shares of Sunrun from $35.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Oppenheimer cut their target price on Sunrun from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. Barclays lowered their price target on Sunrun from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Finally, Truist Financial reiterated a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.11.

Sunrun Stock Performance

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a 50 day moving average of $10.25 and a two-hundred day moving average of $14.60. The stock has a market cap of $2.10 billion, a PE ratio of -5.13 and a beta of 2.58.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Thursday, November 7th. The energy company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The company had revenue of $537.17 million for the quarter, compared to analyst estimates of $560.60 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. Research analysts predict that Sunrun Inc. will post -0.41 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total transaction of $497,000.00. Following the completion of the sale, the director now owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. This represents a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $33,182.24. Following the completion of the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock valued at $1,614,147 in the last three months. 3.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of RUN. International Assets Investment Management LLC boosted its stake in shares of Sunrun by 1,706.3% in the third 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. lifted its holdings in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun during the 3rd quarter worth $44,000. Union Bancaire Privee UBP SA acquired a new position in shares of Sunrun during the 4th quarter worth $56,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sunrun in the 4th quarter valued at about $94,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.