Sunrun (NASDAQ:RUN) Sees Strong Trading Volume – Here’s Why

Shares of Sunrun Inc. (NASDAQ:RUN) saw an uptick in trading volume on Monday . 13,227,970 shares were traded during trading, an increase of 1% from the previous session’s volume of 13,056,505 shares.The stock last traded at $8.13 and had previously closed at $7.43.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna decreased their target price on Sunrun from $13.00 to $10.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Jefferies Financial Group downgraded shares of Sunrun from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $6.00 to $5.00 in a report on Wednesday, June 11th. Truist Financial reiterated a “hold” rating and set a $6.00 target price (down previously from $9.00) on shares of Sunrun in a research note on Wednesday, April 16th. Mizuho set a $13.00 price target on shares of Sunrun and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Finally, UBS Group lowered their price objective on shares of Sunrun from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.26.

Sunrun Stock Performance

The company has a market cap of $1.94 billion, a P/E ratio of -0.70 and a beta of 2.61. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89. The company has a 50 day moving average price of $8.15 and a 200-day moving average price of $8.19.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.42. Sunrun had a negative net margin of 129.97% and a positive return on equity of 9.42%. The firm had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. During the same quarter in the prior year, the firm posted ($0.40) EPS. Sunrun’s revenue was up 10.1% compared to the same quarter last year. Equities analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity

In other news, CFO Danny Abajian sold 16,927 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the sale, the chief financial officer now owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeanna Steele sold 9,942 shares of Sunrun stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $6.74, for a total value of $67,009.08. Following the transaction, the insider now directly owns 291,238 shares in the company, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,993 shares of company stock worth $612,979 over the last three months. Corporate insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of institutional investors and hedge funds have recently bought and sold shares of RUN. Alyeska Investment Group L.P. grew its stake 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 last quarter. Greenvale Capital LLP grew its position in Sunrun by 50.3% in the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares during the last quarter. Sylebra Capital LLC grew its position in Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares during the last quarter. Norges Bank bought a new position in shares of Sunrun in the fourth quarter valued at $31,022,000. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Sunrun during the 4th quarter valued at $18,500,000. 91.69% of the stock is 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.