Sunrun (NASDAQ:RUN) Trading Up 9.5% – Here’s What Happened

Sunrun Inc. (NASDAQ:RUN) rose 9.5% on Monday . The stock traded as high as $11.56 and last traded at $11.51. Approximately 8,027,695 shares changed hands during trading, a decline of 33% from the average daily volume of 11,965,199 shares. The stock had previously closed at $10.51.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI dropped their price objective on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Oppenheimer cut their price target 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. JPMorgan Chase & Co. lifted their price objective on Sunrun from $19.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group cut their target price on Sunrun from $31.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, StockNews.com raised Sunrun to a “sell” rating in a report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Sunrun has a consensus rating of “Hold” and a consensus target price of $19.28.

Sunrun Price Performance

The company has a 50 day moving average of $14.54 and a 200 day moving average of $15.41. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of -6.47 and a beta of 2.61. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $9.94, for a total value of $497,000.00. Following the transaction, the director now owns 1,092,446 shares in the company, valued at approximately $10,858,913.24. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Danny Abajian sold 4,869 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.35, for a total transaction of $79,608.15. Following the sale, the chief financial officer now owns 269,393 shares of the company’s stock, valued at approximately $4,404,575.55. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,795 shares of company stock worth $3,071,225. 3.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

A number of large investors have recently modified their holdings of RUN. International Assets Investment Management LLC boosted its stake in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares during the period. Blue Trust Inc. lifted its holdings in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after acquiring an additional 1,465 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of Sunrun during the second quarter valued at approximately $36,000. CWM LLC raised its position in shares of Sunrun by 883.9% during the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock worth $40,000 after purchasing an additional 3,014 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sunrun in the 3rd quarter worth approximately $44,000. 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.