Sunrun (NASDAQ:RUN) Shares Gap Up - Here's Why

Sunrun Inc. (NASDAQ:RUN - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $7.28, but opened at $7.68. Sunrun shares last traded at $7.74, with a volume of 4,932,604 shares traded.

Wall Street Analyst Weigh In

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A number of research analysts recently commented on RUN shares. Royal Bank Of Canada cut Sunrun from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $12.00 to $5.00 in a research note on Wednesday, June 18th. Roth Capital set a $20.00 target price on Sunrun in a research report on Friday, February 28th. BNP Paribas cut shares of Sunrun from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Susquehanna lowered their price objective on shares of Sunrun from $13.00 to $10.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group lifted their target price on shares of Sunrun from $12.00 to $15.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.26.

View Our Latest Research Report on Sunrun

Sunrun Trading Up 6.9%

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The stock's fifty day simple moving average is $8.12 and its two-hundred day simple moving average is $8.26. The firm has a market cap of $1.78 billion, a PE ratio of -0.64 and a beta of 2.61. The company has a quick ratio of 0.99, a current ratio of 1.32 and a debt-to-equity ratio of 3.89.

Sunrun (NASDAQ:RUN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.42. Sunrun had a positive return on equity of 9.42% and a negative net margin of 129.97%. The company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. During the same quarter last year, the company earned ($0.40) EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Transactions at Sunrun

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In other Sunrun news, CFO Danny Abajian sold 16,927 shares of Sunrun stock in a transaction on Monday, April 7th. The stock was 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 owns 231,279 shares of the company's stock, valued at approximately $1,558,820.46. This trade represents a 6.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward Harris Fenster purchased 50,000 shares of the stock in a transaction dated Monday, May 12th. The shares were acquired at an average cost of $10.87 per share, for a total transaction of $543,500.00. Following the completion of the acquisition, the director now owns 1,408,182 shares of the company's stock, valued at approximately $15,306,938.34. This represents a 3.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 88,993 shares of company stock valued at $612,979 in the last quarter. 3.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Sunrun

A number of hedge funds have recently bought and sold shares of RUN. Aster Capital Management DIFC Ltd bought a new stake in shares of Sunrun in the fourth quarter worth approximately $29,000. Summit Securities Group LLC bought a new position in shares of Sunrun during the 4th quarter valued at $53,000. Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the 4th quarter worth $56,000. Sterling Capital Management LLC grew its stake in shares of Sunrun by 807.5% during the 4th quarter. Sterling Capital Management LLC now owns 6,888 shares of the energy company's stock valued at $64,000 after purchasing an additional 6,129 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in Sunrun during the fourth quarter valued at approximately $92,000. Hedge funds and other institutional investors 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.

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