Sunrun Inc. (NASDAQ: RUN) shares rose in value Tuesday Nov 22 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.
The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.
Analysts at Barclays PLC upgraded shares of Sunrun Inc. (NASDAQ: RUN) from Equal Weight to Overweight today. Barclays PLC currently has a rating of Overweight on the stock. The one-year price target of $10.64 is above the opening price of $5.02, resulting a number of other analysts to report on the stock in recent days. Looking back over the last 52 weeks, Sunrun Inc. stock has a high of $14.95. Usually, after analysts publish an upgrade report on a stock, they will later issue periodic updates, such as a price target change.
Shares of Sunrun Inc. (NASDAQ: RUN) opened at $5.02 on Tuesday and has traded in a range between, $4.89 and $5.05, and last traded at $5.05, which represents a jump of $0.23 or 4.67% over the previous closing price.
Sunrun Inc. (NASDAQ: RUN) now has a market cap of 523.75M.
Sunrun Inc. (NASDAQ: RUN) Average Daily Trading Volume
276,012 shares traded hands yesterday, lower than normal, out of a total float 72,598,000. Investors often use swings in trading volume to pinpoint heavy volume growth or circulation by institutional investors, so trading volume is likely to increase in the next few days.
As with all possible breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you’re considering.
Sunrun Inc. (NASDAQ: RUN) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors and how they influence moving averages, traders can make the best trades.
With that in mind, Sunrun Inc. (NASDAQ: RUN) now has a 50-day MA of $5.65 and 200-day MA of $5.78. It has traded in a 52-week range between $4.15 – 14.950 and today’s last price is 66.25%% lower than the 52 week high of $14.95.
Earnings growth is a crucial factor to research when buying stocks and investors seek companies that have increased their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.