Sunrun (NASDAQ:RUN) Announces Earnings Results

Sunrun (NASDAQ:RUN) announced its quarterly earnings results on Wednesday. The energy company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09, Briefing.com reports. The firm had revenue of $458.20 million during the quarter, compared to analysts’ expectations of $471.38 million. Sunrun had a negative net margin of 71.00% and a negative return on equity of 5.58%. Sunrun’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.12) earnings per share.

Sunrun Stock Up 7.8 %

Shares of NASDAQ RUN traded up $0.90 during trading hours on Thursday, hitting $12.41. The stock had a trading volume of 20,995,408 shares, compared to its average volume of 13,724,079. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.96 and a current ratio of 1.26. The company has a market capitalization of $2.75 billion, a P/E ratio of -1.64 and a beta of 2.50. The firm’s 50-day moving average price is $11.35 and its two-hundred day moving average price is $13.14. Sunrun has a 52 week low of $8.43 and a 52 week high of $23.85.

Insider Buying and Selling

In other Sunrun news, Director Alan Ferber bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $97,300.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $97,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Alan Ferber acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $9.73 per share, with a total value of $97,300.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $97,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn Michelle Jurich sold 2,836 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.01, for a total value of $28,388.36. Following the completion of the transaction, the director now directly owns 1,399,810 shares of the company’s stock, valued at $14,012,098.10. The disclosure for this sale can be found here. Insiders have sold 301,760 shares of company stock worth $3,615,990 in the last quarter. 3.76% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RUN has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Sunrun from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets raised their price objective on shares of Sunrun from $18.00 to $20.00 and gave the company a “market perform” rating in a research note on Thursday, February 22nd. Mizuho lowered their price target on Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Truist Financial reiterated a “hold” rating and set a $14.00 target price (down from $15.00) on shares of Sunrun in a research report on Monday, February 26th. Finally, Oppenheimer restated an “outperform” rating and set a $19.00 target price on shares of Sunrun in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Sunrun presently has an average rating of “Moderate Buy” and a consensus price target of $21.21.

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.