Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Sunrun Inc. shares valued at $147,889 were sold by Jurich Lynn Michelle on Sep 19. At $37.04 per share, Jurich Lynn Michelle sold 3,993 shares. The insider’s holdings dropped to 1,449,459 shares worth approximately $47.11 million following the completion of this transaction.
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Also, Philpot Michelle sold 400 shares, netting a total of over 14,815 in proceeds. Following the sale of shares at $37.04 each, the insider now holds 30,348 shares.
Before that, STEELE JEANNA had sold 799 shares from its account. In a trade valued at $29,588, the Chief Legal & People Officer traded Sunrun Inc. shares for $37.03 each. Upon closing the transaction, the insider’s holdings decreased to 799 shares, worth approximately $5.08 million.
As published in their initiating research note from Barclays on August 05, 2022, Sunrun Inc. [RUN] has been an Overweight and the price target has been revised to $46. This represents a 29.35% premium over Thursday’s closing price. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 29, 2022, Wells Fargo has initiated its “an Equal weight” rating for RUN.
Analyzing RUN’s Price Performance
On Thursday, Sunrun Inc. [NASDAQ: RUN] plunged -5.39% to $32.50. The stock’s lowest price that day was $32.226, but it reached a high of $34.76 in the same session. During the last five days, there has been a drop of approximately -13.01%. Over the course of the year, Sunrun Inc. shares have dropped approximately -5.25%. Shares of the company reached a 52-week high of $39.13 on 09/15/22 and a 52-week low of $16.80 on 05/12/22. A 50-day SMA is recorded $32.22, while a 200-day SMA reached $28.45. Nevertheless, trading volume fell to 5.79 million shares from 6.25 million shares the previous day.
Support And Resistance Levels for Sunrun Inc. (RUN)
According to the 24-hour chart, there is a support level at 31.56, which, if violated, would cause prices to drop to 30.63. In the upper region, resistance lies at 34.10. The next price resistance is at 35.70. RSI (Relative Strength Index) is 42.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.31, which suggests the price will decrease in the coming days. Percent R is at 79.78%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Sunrun Inc. subject to short interest?
Stocks of Sunrun Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.73 million shares to 29.97 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 27.24 million shares. A jump of 9.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.61.
Which companies own the most shares of Sunrun Inc. (RUN)?
According to BlackRock Fund Advisors filings, the company currently owns 21,142,256 shares, which is about 9.97% of the total RUN shares outstanding. The investor’s shares have appreciated by 976,430 from its previous 13-F filing of 20165826.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $591,255,992. Orbis Investment Management Ltd. acquire a 21.17% interest valued at $421.35 million while BNP Paribas Asset Management UK L purchased a 897 stake. A total of 1,464,843 shares of Sunrun Inc. were bought by BlackRock Advisors during the quarter, and 1,052,421 were bought by Grantham, Mayo, Van Otterloo & Co. In its current portfolio, Invesco Capital Management LLC holds 5,889,282 shares valued at $194.52 million.
In terms of Sunrun Inc. share price expectations, FactSet research, analysts set an average price target of $50.02 in the next 12 months, up nearly 36.83% from the previous closing price of $34.35. Analysts anticipate Sunrun Inc. stock to reach $79.00 by 2022, with the lowest price target being $30.00. In spite of this, 25 analysts ranked Sunrun Inc. stock as an Overweight at the end of 2022. On January 24, 2022, Truist assigned a price target of “a Buy” to the stock and reiterated coverage with a $52.