Sunrun Inc (NASDAQ:RUN) shot up 2.6% during trading on Thursday . The stock traded as high as $9.88 and last traded at $10.08. 2,910,799 shares were traded during mid-day trading, an increase of 45% from the average session volume of 2,011,370 shares. The stock had previously closed at $9.82.
Several research firms have recently commented on RUN. Zacks Investment Research downgraded Sunrun from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Goldman Sachs increased their price objective on Sunrun from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Bank of America downgraded Sunrun from a “buy” rating to an “underperform” rating in a report on Friday. BidaskClub raised Sunrun from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Finally, UBS began coverage on Sunrun in a report on Thursday, March 15th. They issued a “buy” rating and a $8.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Sunrun currently has an average rating of “Buy” and an average target price of $9.75.
The company has a quick ratio of 1.01, a current ratio of 1.29 and a debt-to-equity ratio of 1.22. The company has a market cap of $1,053.65, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.53 and a beta of -1.02.
Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Tuesday, March 6th. The energy company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). Sunrun had a net margin of 23.51% and a return on equity of 8.54%. The business had revenue of $146.44 million during the quarter, compared to the consensus estimate of $133.62 million. equities analysts forecast that Sunrun Inc will post 1.56 earnings per share for the current year.
In related news, CEO Lynn Michelle Jurich sold 36,522 shares of the stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $8.92, for a total value of $325,776.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 24.13% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Sunrun by 0.6% during the 4th quarter. BlackRock Inc. now owns 6,018,588 shares of the energy company’s stock worth $35,510,000 after buying an additional 34,454 shares during the period. DnB Asset Management AS increased its position in Sunrun by 4.1% during the 4th quarter. DnB Asset Management AS now owns 5,357,471 shares of the energy company’s stock worth $31,609,000 after buying an additional 212,607 shares during the period. Guggenheim Capital LLC increased its position in Sunrun by 31.2% during the 4th quarter. Guggenheim Capital LLC now owns 2,660,844 shares of the energy company’s stock worth $15,700,000 after buying an additional 632,070 shares during the period. Millennium Management LLC increased its position in Sunrun by 35.9% during the 4th quarter. Millennium Management LLC now owns 2,008,395 shares of the energy company’s stock worth $11,850,000 after buying an additional 531,030 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Sunrun by 103.7% during the 4th quarter. Handelsbanken Fonder AB now owns 1,364,180 shares of the energy company’s stock worth $8,049,000 after buying an additional 694,402 shares during the period. Institutional investors and hedge funds own 80.89% of the company’s stock.
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Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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