Sunrun (NASDAQ:RUN) Shares Up 4.3% After Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN) shares rose 4.3% during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $12.00 to $15.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as high as $11.72 and last traded at $11.78. Approximately 876,302 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 11,080,615 shares. The stock had previously closed at $11.29.

RUN has been the subject of several other reports. Roth Capital set a $20.00 target price on Sunrun in a research report on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Susquehanna decreased their price objective on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a report on Monday, April 14th. UBS Group reissued a “buy” rating and issued a $17.00 price objective on shares of Sunrun in a report on Wednesday, May 14th. Finally, TD Cowen cut their target price on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Sunrun has an average rating of “Hold” and a consensus price target of $14.92.

Insider Activity

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 sale, the director now owns 941,753 shares of the company’s stock, valued at approximately $8,569,952.30. This trade represents a 5.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Paul S. Dickson sold 19,343 shares of Sunrun stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $130,371.82. Following the sale, the executive now directly owns 399,729 shares in the company, valued at $2,694,173.46. This trade represents a 4.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,540 shares of company stock valued at $1,050,944 over the last ninety days. 3.37% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sunrun

Several institutional investors have recently added to or reduced their stakes in RUN. Alyeska Investment Group L.P. boosted its holdings in shares of Sunrun by 593.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 12,028,454 shares of the energy company’s stock worth $111,263,000 after purchasing an additional 10,294,947 shares during the period. Greenvale Capital LLP boosted its holdings in Sunrun by 50.3% during the 4th 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 period. Sylebra Capital LLC boosted its holdings in Sunrun by 124.0% during 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 period. Norges Bank purchased a new position in Sunrun during the 4th quarter valued at $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new position in Sunrun during the 4th quarter valued at $18,500,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 4.1%

The stock has a fifty day moving average of $7.38 and a 200-day moving average of $8.87. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47. The company has a market cap of $2.69 billion, a PE ratio of -6.48 and a beta of 2.66.

Sunrun (NASDAQ:RUN) last issued its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. The business had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. Sunrun’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.40) EPS. Sell-side analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

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.