Sunrun (NASDAQ:RUN) Trading 2.8% Higher

Sunrun Inc. (NASDAQ:RUN) rose 2.8% on Wednesday . The company traded as high as $10.70 and last traded at $10.62. Approximately 989,334 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 14,236,317 shares. The stock had previously closed at $10.33.

Analysts Set New Price Targets

RUN has been the subject of a number of research analyst reports. BMO Capital Markets boosted their target price on shares of Sunrun from $18.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Royal Bank of Canada lowered their price target on shares of Sunrun from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Oppenheimer reissued an “outperform” rating and set a $19.00 price target on shares of Sunrun in a research note on Thursday, February 22nd. Truist Financial reissued a “hold” rating and set a $14.00 price target (down from $15.00) on shares of Sunrun in a research note on Monday, February 26th. Finally, Janney Montgomery Scott downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Sunrun has an average rating of “Moderate Buy” and an average price target of $21.53.

Sunrun Stock Up 3.4 %

The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 1.68. The company’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $13.21.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, February 21st. The energy company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($1.20). Sunrun had a negative return on equity of 5.58% and a negative net margin of 71.00%. The company had revenue of $516.59 million for the quarter, compared to the consensus estimate of $499.74 million. On average, research analysts anticipate that Sunrun Inc. will post -1.69 EPS for the current year.

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.01, for a total transaction of $28,388.36. Following the completion of the sale, the director now owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunrun news, Director Alan Ferber bought 10,000 shares of Sunrun stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $97,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 2,836 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.01, for a total transaction of $28,388.36. Following the transaction, the director now owns 1,399,810 shares of the company’s stock, valued at approximately $14,012,098.10. The disclosure for this sale can be found here. Insiders sold 301,760 shares of company stock valued at $3,615,990 over the last quarter. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RUN. Salem Investment Counselors Inc. lifted its stake in Sunrun by 3,750.0% in the first quarter. Salem Investment Counselors Inc. now owns 1,540 shares of the energy company’s stock valued at $47,000 after acquiring an additional 1,500 shares during the last quarter. Fifth Third Bancorp lifted its stake in Sunrun by 76.9% in the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares during the last quarter. Versant Capital Management Inc lifted its stake in Sunrun by 149.7% in the fourth quarter. Versant Capital Management Inc now owns 1,880 shares of the energy company’s stock valued at $37,000 after acquiring an additional 1,127 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Sunrun in the third quarter valued at $26,000. Finally, Belpointe Asset Management LLC lifted its stake in Sunrun by 735.2% in the first quarter. Belpointe Asset Management LLC now owns 2,113 shares of the energy company’s stock valued at $43,000 after acquiring an additional 1,860 shares during the last quarter. Institutional investors and hedge funds 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.