Sunrun (NASDAQ:RUN) Trading 8.1% Higher – What’s Next?

Sunrun Inc. (NASDAQ:RUN) shares traded up 8.1% during trading on Thursday . The stock traded as high as $18.50 and last traded at $18.4650. 3,539,169 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 14,398,127 shares. The stock had previously closed at $17.08.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley lifted their price target on Sunrun from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Susquehanna upped their price target on shares of Sunrun from $13.00 to $23.00 and gave the stock a “positive” rating in a research note on Monday, October 13th. Jefferies Financial Group upgraded shares of Sunrun from a “hold” rating to a “buy” rating and increased their price target for the company from $11.00 to $21.00 in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sunrun from $11.00 to $20.00 and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, Guggenheim raised shares of Sunrun from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.58.

Sunrun Stock Up 6.7%

The firm’s fifty day simple moving average is $19.15 and its 200-day simple moving average is $14.81. The company has a market cap of $4.23 billion, a PE ratio of -1.63 and a beta of 2.35. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 3.67.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. The firm had revenue of $724.56 million during the quarter, compared to the consensus estimate of $601.15 million. Sunrun had a positive return on equity of 19.34% and a negative net margin of 106.50%.The company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.37) EPS. As a group, equities research analysts expect that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 1,870 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.80, for a total value of $33,286.00. Following the completion of the transaction, the insider directly owned 359,919 shares in the company, valued at approximately $6,406,558.20. The trade was a 0.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 2,890 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $17.80, for a total value of $51,442.00. Following the sale, the chief executive officer owned 873,700 shares in the company, valued at $15,551,860. This trade represents a 0.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 412,749 shares of company stock valued at $7,923,416. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Institutional investors have recently added to or reduced their stakes in the company. Sycomore Asset Management purchased a new position in shares of Sunrun in the 3rd quarter worth about $28,000. Optiver Holding B.V. acquired a new position in Sunrun during the third quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its stake in Sunrun by 181.0% during the second quarter. Smartleaf Asset Management LLC now owns 4,130 shares of the energy company’s stock worth $34,000 after buying an additional 2,660 shares during the period. Advisory Services Network LLC purchased a new position in shares of Sunrun in the 3rd quarter valued at $38,000. Finally, Resources Management Corp CT ADV raised its stake in shares of Sunrun by 1,085.3% in the 3rd quarter. Resources Management Corp CT ADV now owns 2,252 shares of the energy company’s stock valued at $39,000 after acquiring an additional 2,062 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.