Sunrun (NASDAQ:RUN) Sets New 52-Week High at $64.41

Sunrun Inc (NASDAQ:RUN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.41 and last traded at $63.86, with a volume of 7838 shares trading hands. The stock had previously closed at $62.80.

Several research firms recently commented on RUN. JPMorgan Chase & Co. restated a “buy” rating and set a $40.00 price target on shares of Sunrun in a research report on Tuesday, July 21st. JMP Securities increased their price target on Sunrun from $19.00 to $31.00 in a research report on Monday, July 6th. BidaskClub upgraded Sunrun from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Zacks Investment Research raised shares of Sunrun from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Finally, Roth Capital boosted their price objective on Sunrun from $32.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.72.

The stock has a market capitalization of $7.74 billion, a PE ratio of -6,273.73 and a beta of 1.97. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.83 and a current ratio of 1.23. The firm’s 50 day moving average is $51.30 and its two-hundred day moving average is $26.83.

Sunrun (NASDAQ:RUN) last released its earnings results on Monday, August 10th. The energy company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.22). The company had revenue of $181.30 million during the quarter, compared to analysts’ expectations of $187.01 million. During the same period last year, the firm earned ($0.01) earnings per share. Sunrun’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, analysts anticipate that Sunrun Inc will post -0.13 EPS for the current year.

In other Sunrun news, Chairman Edward Harris Fenster sold 11,218 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $60.76, for a total transaction of $681,605.68. Following the sale, the chairman now owns 1,614,141 shares of the company’s stock, valued at $98,075,207.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lynn Michelle Jurich sold 41,667 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $19.78, for a total transaction of $824,173.26. Following the completion of the transaction, the chief executive officer now owns 3,077,307 shares of the company’s stock, valued at approximately $60,869,132.46. The disclosure for this sale can be found here. Insiders sold 698,838 shares of company stock worth $25,196,767 in the last three months. 8.55% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in Sunrun by 9.2% during the second quarter. Mutual of America Capital Management LLC now owns 3,862 shares of the energy company’s stock worth $76,000 after purchasing an additional 325 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Sunrun by 17.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,223 shares of the energy company’s stock valued at $44,000 after purchasing an additional 328 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sunrun by 3.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,117 shares of the energy company’s stock worth $239,000 after purchasing an additional 366 shares in the last quarter. Private Advisor Group LLC lifted its stake in Sunrun by 4.2% in the 2nd quarter. Private Advisor Group LLC now owns 12,383 shares of the energy company’s stock valued at $244,000 after buying an additional 500 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Sunrun by 91.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,705 shares of the energy company’s stock valued at $34,000 after buying an additional 815 shares in the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

Sunrun Company Profile (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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