Sunrun (NASDAQ:RUN) Shares Gap Up – Time to Buy?

Sunrun Inc. (NASDAQ:RUN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $13.48, but opened at $14.13. Sunrun shares last traded at $14.0790, with a volume of 2,537,912 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RUN. Freedom Capital lowered Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Barclays reduced their price target on Sunrun from $23.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Wall Street Zen cut Sunrun from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Jefferies Financial Group cut their price objective on shares of Sunrun from $22.00 to $15.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Finally, Zacks Research downgraded shares of Sunrun from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Sunrun presently has an average rating of “Hold” and a consensus target price of $18.98.

Sunrun Stock Performance

The company has a fifty day moving average price of $13.63 and a two-hundred day moving average price of $15.57. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 6.50 and a beta of 2.32. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.45 and a quick ratio of 1.09.

Sunrun (NASDAQ:RUN) last released its earnings results on Wednesday, May 6th. The energy company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.67. Sunrun had a return on equity of 14.06% and a net margin of 17.88%.The firm had revenue of $722.23 million for the quarter, compared to analyst estimates of $688.50 million. During the same period in the previous year, the company earned $0.20 earnings per share. Sunrun’s revenue was up 43.2% compared to the same quarter last year. As a group, equities research analysts expect that Sunrun Inc. will post 1.09 EPS for the current year.

Insider Buying and Selling

In other Sunrun news, CFO Danny Abajian sold 132,953 shares of Sunrun stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,761,627.25. Following the transaction, the chief financial officer owned 432,157 shares in the company, valued at approximately $5,726,080.25. The trade was a 23.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Paul S. Dickson sold 127,673 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $13.25, for a total value of $1,691,667.25. Following the sale, the executive owned 707,126 shares of the company’s stock, valued at $9,369,419.50. This trade represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 694,816 shares of company stock worth $9,366,473. 3.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its position in shares of Sunrun by 156.9% in the 4th quarter. Farther Finance Advisors LLC now owns 1,449 shares of the energy company’s stock valued at $27,000 after purchasing an additional 885 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Sunrun during the 4th quarter worth about $27,000. Sycomore Asset Management purchased a new stake in Sunrun during the third quarter valued at about $28,000. Hantz Financial Services Inc. boosted its holdings in shares of Sunrun by 59.1% in the fourth quarter. Hantz Financial Services Inc. now owns 1,519 shares of the energy company’s stock worth $28,000 after buying an additional 564 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Sunrun in the fourth quarter worth approximately $30,000. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.