Sunrun (NASDAQ:RUN) Shares Gap Up to $10.95

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.95, but opened at $11.34. Sunrun shares last traded at $11.30, with a volume of 560,375 shares traded.

Analyst Upgrades and Downgrades

RUN has been the subject of several recent analyst reports. Mizuho lowered their price objective on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada dropped their price objective on Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Jefferies Financial Group reduced their target price on Sunrun from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley raised their price target on Sunrun from $24.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Finally, Susquehanna reduced their price objective on shares of Sunrun from $25.00 to $23.00 and set a “positive” rating on the stock in a research report on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Sunrun Price Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The stock has a 50 day simple moving average of $12.60 and a 200-day simple moving average of $13.48.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.09. The company had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. Sunrun’s revenue was down 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.12) EPS. As a group, research analysts anticipate that Sunrun Inc. will post -1.27 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mary Powell sold 22,549 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total transaction of $272,166.43. Following the sale, the chief executive officer now directly owns 379,768 shares of the company’s stock, valued at $4,583,799.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sunrun news, insider Jeanna Steele sold 10,176 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $12.07, for a total transaction of $122,824.32. Following the completion of the sale, the insider now directly owns 228,743 shares in the company, valued at approximately $2,760,928.01. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mary Powell sold 22,549 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $12.07, for a total value of $272,166.43. Following the completion of the transaction, the chief executive officer now owns 379,768 shares in the company, valued at $4,583,799.76. The disclosure for this sale can be found here. Insiders sold a total of 427,143 shares of company stock worth $5,502,579 in the last three months. Insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RUN. Fifth Third Bancorp increased its holdings in Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after buying an additional 764 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Sunrun by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock worth $5,340,000 after purchasing an additional 833 shares during the period. Treasurer of the State of North Carolina lifted its position in Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after purchasing an additional 910 shares in the last quarter. Manchester Capital Management LLC grew its holdings in Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after purchasing an additional 938 shares during the period. Finally, Spire Wealth Management increased its position in Sunrun by 18.7% in the first quarter. Spire Wealth Management now owns 6,405 shares of the energy company’s stock worth $84,000 after buying an additional 1,010 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.

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.