Sunrun (NASDAQ:RUN) Shares Up 4.9% – What’s Next?

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

Analyst Ratings Changes

Several research firms have issued reports on RUN. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Barclays cut their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Roth Capital set a $20.00 price target on Sunrun in a report on Friday, February 28th. Finally, Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $11.00 in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.63.

Sunrun Stock Performance

The business’s 50 day moving average is $8.95 and its two-hundred day moving average is $12.59. The company has a market cap of $1.61 billion, a PE ratio of -3.91 and a beta of 2.84. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Buying and Selling

In other Sunrun news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now owns 560,321 shares of the company’s stock, valued at $6,264,388.78. The trade was a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward Harris Fenster acquired 150,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $6.80 per share, for a total transaction of $1,020,000.00. Following the completion of the acquisition, the director now directly owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 171,466 shares of company stock valued at $1,607,397. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds have recently made changes to their positions in the business. Alyeska Investment Group L.P. increased its stake in Sunrun by 593.9% during the fourth quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after acquiring an additional 10,294,947 shares during the last quarter. Greenvale Capital LLP increased its position in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock valued at $124,875,000 after acquiring an additional 4,516,793 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Sunrun during the third quarter valued at approximately $76,152,000. Sylebra Capital LLC grew its position in Sunrun by 124.0% in the 4th quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock valued at $61,819,000 after acquiring an additional 3,699,405 shares during the last quarter. Finally, Norges Bank purchased a new position in Sunrun in the 4th quarter worth about $31,022,000. 91.69% of the stock is currently 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.