Sunrun (NASDAQ:RUN) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Sunrun Inc. (NASDAQ:RUN)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $8.11 and traded as high as $8.42. Sunrun shares last traded at $8.25, with a volume of 15,239,859 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Susquehanna dropped their price target on Sunrun from $15.00 to $13.00 and set a “positive” rating for the company in a research report on Wednesday, October 14th. Weiss Ratings upgraded Sunrun from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 9th. Royal Bank Of Canada decreased their price objective on Sunrun from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Oppenheimer reiterated an “outperform” rating and set a $20.00 price objective on shares of Sunrun in a research report on Thursday, August 6th. Finally, Wells Fargo & Company cut their target price on shares of Sunrun from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. Twelve research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.39.

Sunrun Price Performance

The stock has a market capitalization of $1.99 billion, a PE ratio of 5.57 and a beta of 2.44. The company has a current ratio of 1.42, a quick ratio of 1.00 and a debt-to-equity ratio of 3.34. The company’s 50 day simple moving average is $8.11 and its 200 day simple moving average is $12.43.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 5th. The energy company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.19. Sunrun had a return on equity of 9.59% and a net margin of 11.59%. The company had revenue of $869.99 million during the quarter, compared to the consensus estimate of $746.87 million. During the same period in the previous year, the firm posted $1.07 EPS. Sunrun’s revenue was up 52.8% on a year-over-year basis. On average, equities analysts anticipate that Sunrun Inc. will post 1.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeanna Steele sold 10,042 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $7.76, for a total value of $77,925.92. Following the completion of the transaction, the insider directly owned 451,673 shares in the company, valued at approximately $3,504,982.48. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Danny Abajian sold 16,734 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $7.76, for a total value of $129,855.84. Following the completion of the transaction, the chief financial officer owned 386,532 shares of the company’s stock, valued at $2,999,488.32. The trade was a 4.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 68,719 shares of company stock worth $533,277 in the last three months. Company insiders own 3.55% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of RUN. Allworth Financial LP acquired a new position in Sunrun during the second quarter worth approximately $25,000. Summit Securities Group LLC purchased a new position in Sunrun during the first quarter worth approximately $36,000. Nykredit A S purchased a new position in Sunrun during the second quarter worth approximately $78,000. Leonteq Securities AG boosted its holdings in shares of Sunrun by 26.8% in the 1st quarter. Leonteq Securities AG now owns 6,281 shares of the energy company’s stock valued at $85,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Sunrun in the 2nd quarter valued at $125,000. 91.69% of the stock is owned by institutional investors and hedge funds.

About Sunrun

Sunrun Inc is a residential clean-energy company that designs, sells, installs, owns and maintains home solar energy systems. The company provides rooftop solar panels and related equipment through purchase and financing options, as well as subscription-based solar-as-a-service arrangements under which customers pay for the electricity their systems produce.

Sunrun also offers home energy storage through its Brightbox battery product. These systems can store solar-generated electricity for use when solar production is unavailable and may provide backup power during grid outages.