Sunrun Inc. (NASDAQ:RUN) Insider Sells $464,857.64 in Stock

Sunrun Inc. (NASDAQ:RUN) insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $19.24, for a total value of $464,857.64. Following the completion of the transaction, the insider now directly owns 310,617 shares of the company’s stock, valued at $5,976,271.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Jeanna Steele also recently made the following trade(s):

• On Monday, July 8th, Jeanna Steele sold 2,513 shares of Sunrun stock. The shares were sold at an average price of $12.61, for a total value of $31,688.93.
• On Thursday, June 6th, Jeanna Steele sold 2,299 shares of Sunrun stock. The shares were sold at an average price of $14.44, for a total transaction of $33,197.56.

Sunrun Price Performance

Shares of Sunrun stock opened at $17.89 on Monday. The business has a 50 day moving average of $14.90 and a 200 day moving average of $13.34. Sunrun Inc. has a 52 week low of $8.43 and a 52 week high of $20.68. The company has a market cap of $3.97 billion, a PE ratio of -2.68 and a beta of 2.61. The company has a quick ratio of 0.99, a current ratio of 1.31 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative net margin of 66.36% and a negative return on equity of 2.43%. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. Sunrun’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts forecast that Sunrun Inc. will post -1.26 earnings per share for the current year.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RUN. Fifth Third Bancorp grew its position in shares of Sunrun by 76.9% in the 4th quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after buying an additional 764 shares during the period. USCF Advisers LLC increased its stake in shares of Sunrun by 130.0% during the fourth quarter. USCF Advisers LLC now owns 2,300 shares of the energy company’s stock valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. BNP Paribas bought a new stake in shares of Sunrun in the 1st quarter worth approximately $37,000. Duncker Streett & Co. Inc. bought a new position in Sunrun during the 2nd quarter valued at approximately $36,000. Finally, Parallel Advisors LLC increased its position in Sunrun by 91.4% during the 4th quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after buying an additional 1,513 shares in the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RUN has been the topic of a number of recent analyst reports. UBS Group increased their price objective on Sunrun from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price target on Sunrun from $20.00 to $23.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Truist Financial reaffirmed a “hold” rating and issued a $18.00 target price (up from $12.00) on shares of Sunrun in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of Sunrun from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Sunrun presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.69.

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.