Sunrun (NASDAQ:RUN) Trading 6.7% Higher – Should You Buy?

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 6.7% on Tuesday . The company traded as high as $6.13 and last traded at $6.25. 2,738,559 shares were traded during mid-day trading, a decline of 74% from the average session volume of 10,564,136 shares. The stock had previously closed at $5.86.

Wall Street Analyst Weigh In

RUN has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating on the stock in a research report on Monday, March 3rd. BNP Paribas raised shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Sunrun to a “sell” rating in a report on Friday, December 20th. Truist Financial reissued a “hold” rating and issued a $9.00 price target (down from $12.00) on shares of Sunrun in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sunrun has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Stock Up 4.5 %

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.73 and a beta of 2.74. The business has a fifty day moving average price of $7.73 and a two-hundred day moving average price of $10.99.

Insiders Place Their Bets

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $9.10, for a total transaction of $455,000.00. Following the completion of the transaction, the director now directly owns 941,753 shares in the company, valued at approximately $8,569,952.30. This trade represents a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward Harris Fenster acquired 150,000 shares of the stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $6.80 per share, for a total transaction of $1,020,000.00. Following the transaction, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This represents a 12.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 121,466 shares of company stock valued at $1,136,397. 3.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

Large investors have recently made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Sunrun by 34.9% in the third quarter. Cerity Partners LLC now owns 40,545 shares of the energy company’s stock worth $732,000 after acquiring an additional 10,497 shares during the period. The Manufacturers Life Insurance Company boosted its position in Sunrun by 1.1% during the third quarter. The Manufacturers Life Insurance Company now owns 233,551 shares of the energy company’s stock worth $4,218,000 after purchasing an additional 2,441 shares in the last quarter. FMR LLC boosted its position in Sunrun by 83.6% during the third quarter. FMR LLC now owns 3,430,327 shares of the energy company’s stock worth $61,952,000 after purchasing an additional 1,562,163 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Sunrun by 129.1% in the third quarter. MetLife Investment Management LLC now owns 126,174 shares of the energy company’s stock valued at $2,279,000 after purchasing an additional 71,094 shares during the period. Finally, Verition Fund Management LLC increased its position in shares of Sunrun by 59.2% in the third quarter. Verition Fund Management LLC now owns 117,639 shares of the energy company’s stock valued at $2,125,000 after buying an additional 43,765 shares in the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.