Sunrun (NASDAQ:RUN) Shares Up 4.9% – Should You Buy?

Sunrun Inc. (NASDAQ:RUN) shares shot up 4.9% during trading on Thursday . The stock traded as high as $9.68 and last traded at $9.60. 2,636,835 shares changed hands during trading, a decline of 77% from the average session volume of 11,639,706 shares. The stock had previously closed at $9.15.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RUN. Truist Financial reiterated a “hold” rating and issued a $12.00 target price (down from $18.00) on shares of Sunrun in a research note on Tuesday, November 12th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, September 27th. The Goldman Sachs Group cut their price objective on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday. Susquehanna dropped their price target on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. Finally, Barclays lowered their price objective on Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Sunrun currently has an average rating of “Hold” and a consensus target price of $19.21.

Sunrun Stock Performance

The business’s 50-day moving average is $12.22 and its two-hundred day moving average is $15.16. The stock has a market capitalization of $2.05 billion, a PE ratio of -5.03 and a beta of 2.54. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92.

Insider Activity

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Friday, October 18th. The shares were sold at an average price of $14.60, for a total value of $730,000.00. Following the completion of the transaction, the director now owns 1,142,446 shares of the company’s stock, valued at $16,679,711.60. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Paul S. Dickson sold 4,017 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $16.35, for a total transaction of $65,677.95. Following the sale, the executive now directly owns 423,866 shares of the company’s stock, valued at approximately $6,930,209.10. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,691 shares of company stock worth $1,540,601 over the last 90 days. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares during the last quarter. SG Americas Securities LLC boosted its position in Sunrun by 202.3% during the second quarter. SG Americas Securities LLC now owns 38,749 shares of the energy company’s stock valued at $460,000 after purchasing an additional 25,931 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Sunrun by 405.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 60,872 shares of the energy company’s stock worth $722,000 after purchasing an additional 48,827 shares in the last quarter. &PARTNERS raised its stake in shares of Sunrun by 1.6% during the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Sunrun by 3.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 111,500 shares of the energy company’s stock valued at $1,322,000 after buying an additional 3,700 shares in the last quarter. Institutional investors and hedge funds 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.