Sunrun (NASDAQ:RUN) Trading 6.7% Higher – Time to Buy?

Sunrun Inc. (NASDAQ:RUN) was up 6.7% on Tuesday . The stock traded as high as $6.13 and last traded at $6.25. Approximately 2,738,559 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 10,564,136 shares. The stock had previously closed at $5.86.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group cut Sunrun from a “buy” rating to a “hold” rating and reduced their target price for the company from $14.00 to $8.00 in a research note on Wednesday, March 12th. Roth Capital set a $20.00 target price on shares of Sunrun in a report on Friday, February 28th. StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday, December 20th. UBS Group cut their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, BNP Paribas raised Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 target price for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.20.

Sunrun Stock Performance

The firm has a market capitalization of $1.53 billion, a PE ratio of -3.73 and a beta of 2.74. The business has a 50-day simple moving average of $7.73 and a 200-day simple moving average of $10.99. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the completion of the transaction, the chief financial officer now owns 257,969 shares in the company, valued at $2,884,093.42. The trade was a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward Harris Fenster bought 150,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the purchase, the director now owns 1,358,182 shares of the company’s stock, valued at approximately $9,235,637.60. The trade was a 12.42 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 121,466 shares of company stock worth $1,136,397 over the last three months. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new stake in Sunrun in the 4th quarter valued at about $29,000. Newbridge Financial Services Group Inc. raised its stake in shares of Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock valued at $32,000 after acquiring an additional 2,000 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Sunrun in the third quarter valued at approximately $44,000. Summit Securities Group LLC bought a new position in Sunrun in the fourth quarter worth approximately $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Sunrun during the 4th quarter worth $56,000. 91.69% of the stock is currently owned by 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.