The Vanguard Group, Inc. has recently announced that it has increased stake in Sunrun Inc. (NASDAQ:RUN) by 2.09%. After grabbing 18.27 million shares, the institutional investor is now in possession of 0.37 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.62% having worth around $411.35 million. Moreover, SSgA Funds Management, Inc. increased its share by 0.18 million to have a control over 5.93 million shares. And Morgan Stanley Smith Barney LLC raised its holdings to 0.8 million shares by acquiring 3.4 million shares or 1.60% of the stake.
Sunrun Inc. (RUN) concluded trading on 11/23/22 at a closing price of $31.51, with 4.6 million shares of worth about $144.88 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.35% during that period and on Wednesday the price saw a gain of about 1.78%. Currently the company’s common shares owned by public are about 212.70M shares, out of which, 204.64M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 26 analysts are covering the RUN stock and their offered price forecasts bring an average price target of $47.07. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $72.00 and could fall to a lowest price of $28.00. The stock’s current price level is 31.51% above of average price target set by the analysts, while a rise to estimated low would result in loss of -12.54% for the stock. However, touching the estimated high of $72.00 would mean a gain of 56.24% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 128 times over the past 12 months. They bought 1,172,027 shares in 33 of the transactions. In 95 selling transactions, insiders dumped 767,408 shares.
BNP Paribas Funds – Energy Transi, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Sunrun Inc. BNP Paribas Funds – Energy Transi is currently holding 6.4 million shares of worth totaling $144.05 million. The company recently came buying 0.57 million shares which brought its stake up to 3.02% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 2478.0 shares, after which its hold over company’s outstanding shares expand to 3.01%, leaving 6.37 million shares with the mutual fund that have a worth of about $143.48 million. Vanguard Total Stock Market Index, after buying 6.03 million shares, have now control over 2.84% of the stake in the company. It holds 17765.0 shares of worth $135.77 million.
Sunrun Inc. (NASDAQ: RUN) started trading at $31.15, above $0.19 from concluding price of the previous day. However, the stock later moved at a day high price of 31.70, or with a gain of 1.78%. Stock saw a price change of 0.57% in past 5 days and over the past one month there was a price change of 49.05%. Year-to-date (YTD), RUN shares are showing a performance of -8.13% which decreased to -37.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $16.80 but also hit the highest price of $52.95 during that period. The average intraday trading volume for Sunrun Inc. shares is 7.94 million. The stock is currently trading 18.69% above its 20-day simple moving average (SMA20), while that difference is up 15.84% for SMA50 and it goes to 16.08% higher than SMA200.
The Vanguard Group, Inc. acquired 18.27 million shares of Sunrun Inc. having value of about $411.35 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.37 million shares in the company valued at close to $11769394.63, or have control over 2.09% stake in the company. Sunrun Inc. (NASDAQ: RUN) currently have 212.70M outstanding shares and institutions hold larger chunk of about 92.70% of that. Holding of mutual funds in the company is about 38.78% while other institutional holders and individual stake holders have control over 54.35% and 27.83% of the stake respectively.
The stock has a current market capitalization of $7.05B and its 3Y-monthly beta is at 2.13. PE ratio of stock for trailing 12 months is 109.41, while it has posted earnings per share of $0.29 in the same period. It has Quick Ratio of 1.20 while making debt-to-equity ratio of 1.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RUN, volatility over the week remained 6.55% while standing at 8.10% over the month.
Analysts are in expectations that Sunrun Inc. (RUN) stock would likely to be making an EPS of -$0.09 in the current quarter, while forecast for next quarter EPS is -$0.18 and it is -$0.42 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.37 which is $0.38 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 68.80% while it is estimated to decrease by -155.60% in next year.
Analysts at 26 brokerage firms have issued recommendations for the Sunrun Inc. (RUN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 26 Wall Street analysts, 17 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on November 15, 2022 offering a Buy rating for the stock and assigned a target price of $36 to it. On September 28, 2022, Northland Capital Initiated their recommendations, while on August 05, 2022, Barclays Initiated their ratings for the stock with a price target of $46. Stock get a Neutral rating from Piper Sandler on July 19, 2022.