Sunrun (NASDAQ:RUN) Shares Up 8.1% – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN)’s stock price traded up 8.1% during trading on Monday . The stock traded as high as $6.85 and last traded at $7.03. 3,609,492 shares were traded during mid-day trading, a decline of 66% from the average session volume of 10,686,312 shares. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada reduced their price target on shares of Sunrun from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. UBS Group reduced their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Roth Capital set a $20.00 target price on shares of Sunrun in a research report on Friday, February 28th. Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group downgraded shares of Sunrun from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.00 to $8.00 in a research report on Wednesday, March 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.20.

Sunrun Stock Down 0.0 %

The business’s fifty day moving average price is $8.46 and its two-hundred day moving average price is $11.90. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $1.47 billion, a P/E ratio of -3.58 and a beta of 2.84.

Insider Activity at Sunrun

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

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently bought and sold shares of RUN. Oppenheimer & Co. Inc. acquired a new stake in Sunrun in the 3rd quarter worth $241,000. Natixis Advisors LLC grew its position in Sunrun by 29.5% in the 3rd quarter. Natixis Advisors LLC now owns 34,295 shares of the energy company’s stock worth $619,000 after purchasing an additional 7,814 shares during the last quarter. Quest Partners LLC grew its position in Sunrun by 149.9% in the 3rd quarter. Quest Partners LLC now owns 19,290 shares of the energy company’s stock worth $348,000 after purchasing an additional 11,570 shares during the last quarter. Jennison Associates LLC acquired a new stake in Sunrun in the 3rd quarter worth $813,000. Finally, Advisors Asset Management Inc. grew its position in Sunrun by 41.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 48,001 shares of the energy company’s stock worth $867,000 after purchasing an additional 14,157 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.