Sunrun (NASDAQ:RUN) Stock Price Up 3.6% Following Insider Buying Activity

Sunrun Inc. (NASDAQ:RUN) shares rose 3.6% on Tuesday after an insider bought additional shares in the company. The company traded as high as $6.52 and last traded at $6.39. Approximately 6,892,974 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 10,530,125 shares. The stock had previously closed at $6.17.

Specifically, Director Edward Harris Fenster bought 150,000 shares of Sunrun stock in a transaction on Monday, March 3rd. The stock was acquired at an average price of $6.80 per share, with a total value of $1,020,000.00. Following the acquisition, the director now owns 1,358,182 shares in the company, valued at approximately $9,235,637.60. This trade represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

RUN has been the subject of a number of research analyst reports. Guggenheim lowered Sunrun from a “buy” rating to a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. StockNews.com raised Sunrun to a “sell” rating in a report on Friday, December 20th. TD Cowen cut their price objective on Sunrun from $18.00 to $14.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $9.00 price objective (down previously from $12.00) on shares of Sunrun in a report on Monday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Sunrun Stock Up 2.8 %

The company has a 50-day moving average price of $9.13 and a 200 day moving average price of $12.85. The firm has a market capitalization of $1.55 billion, a PE ratio of -3.79 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

Hedge Funds Weigh In On Sunrun

Several large investors have recently made changes to their positions in RUN. Sylebra Capital LLC lifted its position in shares of Sunrun by 124.0% in the fourth quarter. Sylebra Capital LLC now owns 6,683,162 shares of the energy company’s stock worth $61,819,000 after buying an additional 3,699,405 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Sunrun by 8.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 662,211 shares of the energy company’s stock worth $6,125,000 after buying an additional 52,176 shares in the last quarter. Vident Advisory LLC lifted its position in shares of Sunrun by 76.9% in the fourth quarter. Vident Advisory LLC now owns 20,219 shares of the energy company’s stock worth $187,000 after buying an additional 8,792 shares in the last quarter. Teza Capital Management LLC lifted its position in shares of Sunrun by 12.9% in the fourth quarter. Teza Capital Management LLC now owns 44,677 shares of the energy company’s stock worth $413,000 after buying an additional 5,121 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Sunrun in the fourth quarter worth about $2,363,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.