Sunrun (NASDAQ:RUN) Shares Gap Up – What’s Next?

Sunrun Inc. (NASDAQ:RUN)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.47, but opened at $19.80. Sunrun shares last traded at $20.19, with a volume of 2,446,204 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RUN shares. JPMorgan Chase & Co. lifted their target price on Sunrun from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Oppenheimer lifted their price objective on shares of Sunrun from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Sunrun in a research note on Thursday, January 22nd. Zacks Research cut shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Sunrun in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.99.

Sunrun Price Performance

The stock has a market capitalization of $4.62 billion, a P/E ratio of -1.78 and a beta of 2.36. The business’s 50 day simple moving average is $18.72 and its two-hundred day simple moving average is $17.40. 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 released its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. As a group, sell-side analysts forecast that Sunrun Inc. will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Mary Powell sold 8,754 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $155,821.20. Following the transaction, the chief executive officer directly owned 864,946 shares in the company, valued at approximately $15,396,038.80. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paul S. Dickson sold 6,119 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $17.80, for a total transaction of $108,918.20. Following the completion of the sale, the executive owned 639,110 shares of the company’s stock, valued at approximately $11,376,158. This trade represents a 0.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 354,956 shares of company stock worth $6,634,832 in the last three months. 3.37% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in shares of Sunrun by 7,260.9% in the second quarter. Nisa Investment Advisors LLC now owns 122,118 shares of the energy company’s stock valued at $999,000 after buying an additional 120,459 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Sunrun by 41.7% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 498,530 shares of the energy company’s stock worth $8,620,000 after acquiring an additional 146,588 shares during the period. Range Financial Group LLC purchased a new stake in Sunrun in the 3rd quarter worth about $1,403,000. Duff & Phelps Investment Management Co. raised its stake in Sunrun by 47.3% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 51,807 shares of the energy company’s stock valued at $424,000 after acquiring an additional 16,643 shares during the period. Finally, Lyell Wealth Management LP purchased a new stake in Sunrun during the second quarter valued at about $101,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

About Sunrun

Sunrun, Inc (NASDAQ: RUN) is a leading provider of residential solar energy systems in the United States. The company designs, installs and maintains rooftop solar panels and battery storage solutions for homeowners under flexible financing arrangements. Customers can choose from leasing, power purchase agreements or solar ownership models, all of which are supported by Sunrun’s network of installation partners and service technicians. Sunrun also offers integrated home energy management services, including its Brightbox battery storage product, which enables customers to store solar energy for use during peak hours or power outages.

Founded in 2007 by Lynn Jurich, Ed Fenster and Nat Kreamer, Sunrun is headquartered in San Francisco, California.