Sunrun (NASDAQ:RUN) Shares Gap Up – Here’s Why

Sunrun Inc. (NASDAQ:RUN)’s share price gapped up before the market opened 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Friday, November 8th. Guggenheim cut shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, BMO Capital Markets lowered their price target on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.36.

Sunrun Trading Down 1.4 %

The company’s 50 day moving average price is $9.47 and its 200 day moving average price is $13.51. The firm has a market cap of $1.89 billion, a PE ratio of -4.63 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Insider Activity at Sunrun

In other Sunrun news, CEO Mary Powell sold 4,350 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now owns 560,321 shares of the company’s stock, 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 can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $9.42, for a total transaction of $471,000.00. Following the sale, the director now directly owns 1,041,753 shares in the company, valued at approximately $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,830 shares of company stock valued at $1,572,147 over the last 90 days. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of Sunrun

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd acquired a new stake in Sunrun during the fourth quarter worth approximately $29,000. International Assets Investment Management LLC raised its holdings in Sunrun by 1,706.3% during the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock worth $31,000 after purchasing an additional 1,638 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Sunrun by 133.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after purchasing an additional 2,000 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Sunrun by 385.5% in the 3rd quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sunrun in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.