Sunrun (NASDAQ:RUN) Shares Gap Up – What’s Next?

Sunrun Inc. (NASDAQ:RUN) gapped up prior to trading on Wednesday . The stock had previously closed at $8.86, but opened at $9.16. Sunrun shares last traded at $9.07, with a volume of 1,590,358 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RUN. Barclays lowered their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. The Goldman Sachs Group lowered their price target on Sunrun from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Truist Financial reaffirmed a “hold” rating and set a $12.00 price objective (down from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Finally, Oppenheimer cut their price target on Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

Sunrun Trading Up 0.3 %

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The business’s 50-day moving average is $9.54 and its two-hundred day moving average is $13.58. The stock has a market capitalization of $1.99 billion, a PE ratio of -4.90 and a beta of 2.59.

Insider Transactions at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of Sunrun stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $9.59, for a total value of $479,500.00. Following the sale, the director now directly owns 991,753 shares in the company, valued at approximately $9,510,911.27. This represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,830 shares of company stock valued at $1,117,147. Corporate insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sylebra Capital LLC grew its holdings in Sunrun by 124.0% during the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after acquiring an additional 3,699,405 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Sunrun by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock valued at $6,125,000 after buying an additional 52,176 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Sunrun by 76.9% in the 4th quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock valued at $187,000 after purchasing an additional 8,792 shares during the period. Teza Capital Management LLC lifted its position in Sunrun by 12.9% in the 4th quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock worth $413,000 after buying an additional 5,121 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Sunrun during the fourth quarter worth $2,363,000. 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.