Sunrun (NASDAQ:RUN) Shares Gap Up – What’s Next?

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $13.48, but opened at $14.13. Sunrun shares last traded at $14.0790, with a volume of 2,537,912 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on RUN shares. Susquehanna dropped their target price on Sunrun from $24.00 to $19.00 and set a “positive” rating on the stock in a research report on Thursday, April 9th. Zacks Research lowered Sunrun from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group restated a “buy” rating and set a $18.00 price objective on shares of Sunrun in a report on Thursday, May 7th. Wall Street Zen lowered Sunrun from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Mizuho reduced their target price on Sunrun from $25.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.98.

Sunrun Stock Performance

The company has a fifty day moving average of $13.63 and a two-hundred day moving average of $15.57. The stock has a market capitalization of $3.30 billion, a P/E ratio of 6.50 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The company had revenue of $722.23 million for the quarter, compared to the consensus estimate of $688.50 million. During the same quarter last year, the business posted $0.20 EPS. Sunrun’s quarterly revenue was up 43.2% compared to the same quarter last year. On average, equities analysts anticipate that Sunrun Inc. will post 1.09 EPS for the current year.

Insider Activity

In other news, CRO Paul S. Dickson sold 127,673 shares of Sunrun stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,691,667.25. Following the completion of the transaction, the executive directly owned 707,126 shares of the company’s stock, valued at approximately $9,369,419.50. The trade was a 15.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $14.07, for a total transaction of $703,500.00. Following the sale, the director directly owned 557,947 shares of the company’s stock, valued at approximately $7,850,314.29. This represents a 8.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 694,816 shares of company stock valued at $9,366,473 over the last three months. 3.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sunrun

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Contour Asset Management LLC acquired a new stake in shares of Sunrun during the 4th quarter worth approximately $98,010,000. Norges Bank bought a new position in Sunrun during the 4th quarter worth $62,169,000. Voloridge Investment Management LLC acquired a new position in shares of Sunrun during the third quarter valued at $40,193,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Sunrun during the third quarter worth about $21,427,000. Finally, Invesco Ltd. grew its position in shares of Sunrun by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,868,199 shares of the energy company’s stock worth $107,975,000 after acquiring an additional 1,231,628 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.