Sunrun (NASDAQ:RUN) Trading 4.9% Higher – Here’s Why

Shares of Sunrun Inc. (NASDAQ:RUN) rose 4.9% during mid-day trading on Monday . The stock traded as high as $7.41 and last traded at $7.51. Approximately 1,621,494 shares changed hands during trading, a decline of 85% from the average daily volume of 10,775,120 shares. The stock had previously closed at $7.16.

Analyst Ratings Changes

Several equities analysts recently commented on RUN shares. Wells Fargo & Company dropped their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. BNP Paribas upgraded Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price target for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group decreased their price objective on Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, March 3rd. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Finally, Roth Capital set a $20.00 price target on Sunrun in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and a consensus price target of $17.63.

Sunrun Stock Performance

The stock has a market cap of $1.61 billion, a PE ratio of -3.91 and a beta of 2.84. The company has a fifty day moving average price of $8.95 and a 200 day moving average price of $12.59. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling at Sunrun

In related news, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now owns 418,492 shares in the company, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary Powell sold 4,350 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,466 shares of company stock worth $1,607,397. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sunrun

A number of institutional investors have recently modified their holdings of RUN. Wilmington Savings Fund Society FSB bought a new position in Sunrun in the 3rd quarter worth about $44,000. Aster Capital Management DIFC Ltd bought a new position in shares of Sunrun in the fourth quarter worth approximately $29,000. Newbridge Financial Services Group Inc. grew its holdings 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 buying an additional 2,000 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Sunrun during the fourth quarter valued at approximately $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Sunrun in the 4th quarter worth approximately $56,000. 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.