Sunrun (NASDAQ:RUN) Trading 7.2% Higher – What’s Next?

Sunrun Inc. (NASDAQ:RUN) shares were up 7.2% during trading on Thursday . The company traded as high as $10.04 and last traded at $9.92. Approximately 2,203,485 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 11,560,361 shares. The stock had previously closed at $9.25.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RUN. Roth Mkm dropped their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Friday, December 20th. TD Cowen started coverage on shares of Sunrun in a report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price target for the company. Jefferies Financial Group reduced their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Finally, UBS Group lowered their price target on Sunrun from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.21.

Sunrun Trading Up 10.2 %

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’s fifty day moving average is $11.20 and its 200-day moving average is $14.85. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -5.60 and a beta of 2.54.

Insiders Place Their Bets

In other Sunrun news, insider Jeanna Steele sold 2,624 shares of Sunrun stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $42,902.40. Following the transaction, the insider now owns 305,636 shares of the company’s stock, valued at $4,997,148.60. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the sale, the director now directly owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,691 shares of company stock worth $2,011,601. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after buying an additional 367,835 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Sunrun in the third quarter worth approximately $896,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Sunrun during the third quarter worth approximately $44,000. Virtu Financial LLC bought a new stake in shares of Sunrun in the 3rd quarter worth approximately $482,000. Finally, TCW Group Inc. purchased a new stake in shares of Sunrun in the 3rd quarter valued at $218,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

Sunrun Company Profile

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.