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

Sunrun Inc. (NASDAQ:RUN) gapped up before the market opened on Tuesday . The stock had previously closed at $10.97, but opened at $11.35. Sunrun shares last traded at $11.81, with a volume of 1,881,660 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on RUN shares. TD Cowen assumed coverage on Sunrun in a research report on Thursday, December 19th. They set a “buy” rating and a $21.00 price target on the stock. UBS Group decreased their price objective on shares of Sunrun from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. StockNews.com upgraded shares of Sunrun to a “sell” rating in a research report on Friday, December 20th. Wells Fargo & Company reduced their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Roth Mkm lowered their target price on Sunrun from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Sunrun presently has an average rating of “Hold” and an average target price of $19.16.

Sunrun Trading Down 5.5 %

The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.41 billion, a P/E ratio of -5.91 and a beta of 2.58. The business has a 50 day moving average of $10.86 and a 200-day moving average of $14.78.

Insider Activity

In other news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Paul S. Dickson sold 2,968 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $33,182.24. Following the transaction, the executive now owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,830 shares of company stock worth $1,864,647 over the last quarter. 3.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RUN. Principal Financial Group Inc. increased its position in shares of Sunrun by 33.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock worth $26,385,000 after purchasing an additional 367,835 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Sunrun in the third quarter valued at $76,152,000. Symmetry Investments LP acquired a new position in Sunrun during the second quarter worth $1,205,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock worth $45,426,000 after acquiring an additional 1,337,302 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Sunrun in the third quarter valued at $955,000. 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.