Sunrun (NASDAQ:RUN) Trading Up 6.7% – Still a Buy?

Shares of Sunrun Inc. (NASDAQ:RUN) traded up 6.7% on Wednesday . The stock traded as high as $9.71 and last traded at $9.88. 1,312,814 shares traded hands during trading, a decline of 88% from the average session volume of 10,548,487 shares. The stock had previously closed at $9.26.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RUN shares. UBS Group upgraded Sunrun from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $17.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Glj Research reaffirmed a “sell” rating and issued a $7.78 price target on shares of Sunrun in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and an average price target of $18.36.

Sunrun Price Performance

The company’s 50-day simple moving average is $10.19 and its two-hundred day simple moving average is $14.39. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Sunrun (NASDAQ:RUN) last posted its earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.21). The business had revenue of $537.17 million during the quarter, compared to the consensus estimate of $560.60 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, equities research analysts forecast that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 3,734 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $41,746.12. Following the sale, the chief financial officer now owns 257,969 shares in the company, valued at approximately $2,884,093.42. The trade was a 1.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $9.42, for a total transaction of $471,000.00. Following the completion of the sale, the director now directly owns 1,041,753 shares in the company, valued at $9,813,313.26. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,830 shares of company stock worth $1,614,147 over the last quarter. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently bought and sold shares of RUN. Newbridge Financial Services Group Inc. grew its stake in shares of Sunrun by 133.3% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after buying an additional 2,000 shares during the last quarter. Empowered Funds LLC boosted its stake in Sunrun by 23.2% in the 4th quarter. Empowered Funds LLC now owns 13,734 shares of the energy company’s stock worth $127,000 after purchasing an additional 2,588 shares in the last quarter. Bleakley Financial Group LLC grew its position in Sunrun by 39.3% during the 4th quarter. Bleakley Financial Group LLC now owns 18,915 shares of the energy company’s stock valued at $175,000 after purchasing an additional 5,332 shares during the last quarter. Jennison Associates LLC increased its stake in Sunrun by 36.7% during the 4th quarter. Jennison Associates LLC now owns 61,498 shares of the energy company’s stock valued at $569,000 after purchasing an additional 16,497 shares in the last quarter. Finally, Alterna Wealth Management Inc. purchased a new position in Sunrun in the fourth quarter worth about $96,000. Hedge funds and other 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.