Sunrun (NASDAQ:RUN) Shares Up 4.3% Following Analyst Upgrade

Sunrun Inc. (NASDAQ:RUN) traded up 4.3% during mid-day trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $12.00 to $15.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as high as $11.72 and last traded at $11.78. 876,302 shares traded hands during trading, a decline of 92% from the average session volume of 11,080,615 shares. The stock had previously closed at $11.29.

RUN has been the subject of several other reports. BMO Capital Markets lowered their price objective on shares of Sunrun from $11.00 to $9.00 and set a “market perform” rating for the company in a research note on Monday, March 3rd. Roth Capital set a $20.00 price target on shares of Sunrun in a research note on Friday, February 28th. Susquehanna cut their price objective on shares of Sunrun from $13.00 to $10.00 and set a “positive” rating on the stock in a report on Monday, April 14th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Thursday, May 8th. Finally, Citigroup reiterated a “neutral” rating and set a $7.00 price target on shares of Sunrun in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.92.

Insider Activity at Sunrun

In other news, CFO Danny Abajian sold 16,927 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $114,087.98. Following the completion of the sale, the chief financial officer now directly owns 231,279 shares in the company, valued at $1,558,820.46. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward Harris Fenster bought 50,000 shares of Sunrun stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $10.87 per share, with a total value of $543,500.00. Following the completion of the transaction, the director now directly owns 1,408,182 shares of the company’s stock, valued at approximately $15,306,938.34. The trade was a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 88,540 shares of company stock worth $595,944 in the last three months. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

Hedge funds have recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Sunrun in the fourth quarter valued at about $402,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in Sunrun during the fourth quarter worth about $18,500,000. Charles Schwab Investment Management Inc. boosted its stake in Sunrun by 7.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,562 shares of the energy company’s stock worth $21,511,000 after buying an additional 155,311 shares during the period. Greenvale Capital LLP boosted its stake in Sunrun by 50.3% during the fourth quarter. Greenvale Capital LLP now owns 13,500,000 shares of the energy company’s stock worth $124,875,000 after buying an additional 4,516,793 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new position in Sunrun during the fourth quarter worth about $403,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Trading Up 2.2%

The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. The company has a market cap of $2.64 billion, a PE ratio of -6.34 and a beta of 2.66. The company’s 50 day simple moving average is $7.48 and its two-hundred day simple moving average is $8.89.

Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. Sunrun’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) earnings per share. As a group, sell-side analysts anticipate that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

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.