Sunrun (NASDAQ:RUN) Shares Gap Up to $19.98

Shares of Sunrun Inc (NASDAQ:RUN) gapped up before the market opened on Thursday . The stock had previously closed at $20.56, but opened at $19.98. Sunrun shares last traded at $18.01, with a volume of 144,352 shares traded.

RUN has been the subject of several recent research reports. Roth Capital set a $24.00 price objective on Sunrun and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research raised Sunrun from a “strong sell” rating to a “hold” rating in a research report on Saturday. BidaskClub raised Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Bank of America reaffirmed a “buy” rating and set a $23.50 price objective (up from $17.50) on shares of Sunrun in a research report on Thursday, April 25th. Finally, Goldman Sachs Group raised Sunrun from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, June 17th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Sunrun currently has a consensus rating of “Buy” and an average price target of $21.50.

The stock’s 50-day moving average is $19.30. The company has a quick ratio of 1.15, a current ratio of 1.37 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $2.30 billion, a PE ratio of 71.13, a price-to-earnings-growth ratio of 5.65 and a beta of 0.66.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.18). Sunrun had a negative net margin of 2.84% and a negative return on equity of 1.86%. The company had revenue of $204.60 million for the quarter, compared to analyst estimates of $198.78 million. During the same period last year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities analysts forecast that Sunrun Inc will post 0.69 earnings per share for the current year.

In other Sunrun news, major shareholder Global Long Opportunitie Tiger acquired 46,515 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $18.25 per share, for a total transaction of $848,898.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Tiger Global Management Llc acquired 146,708 shares of the company’s stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $15.78 per share, for a total transaction of $2,315,052.24. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,712,396 shares of company stock valued at $49,604,380 and have sold 298,599 shares valued at $5,868,100. Corporate insiders own 9.34% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RUN. Neuberger Berman Group LLC increased its stake in shares of Sunrun by 5.4% during the first quarter. Neuberger Berman Group LLC now owns 3,912,073 shares of the energy company’s stock worth $55,003,000 after purchasing an additional 200,636 shares during the period. Norges Bank bought a new position in shares of Sunrun during the fourth quarter worth approximately $16,863,000. Dimensional Fund Advisors LP increased its stake in shares of Sunrun by 201.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock worth $16,612,000 after purchasing an additional 1,019,554 shares during the period. Geode Capital Management LLC increased its stake in shares of Sunrun by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 956,714 shares of the energy company’s stock worth $10,418,000 after purchasing an additional 99,781 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Sunrun by 10.9% during the second quarter. Handelsbanken Fonder AB now owns 867,277 shares of the energy company’s stock worth $16,270,000 after purchasing an additional 85,029 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Sunrun (NASDAQ:RUN)

Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.

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