Sunrun (NASDAQ:RUN) Stock Price Down 3.7%

Sunrun Inc. (NASDAQ:RUN) shares dropped 3.7% on Monday . The company traded as low as $17.47 and last traded at $17.50. Approximately 2,430,163 shares were traded during trading, a decline of 81% from the average daily volume of 12,805,890 shares. The stock had previously closed at $18.17.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler boosted their price objective on shares of Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Truist Financial reissued a “hold” rating and issued a $18.00 price target (up previously from $12.00) on shares of Sunrun in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. The Goldman Sachs Group raised their price target on shares of Sunrun from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, UBS Group upped their price target on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.98.

Sunrun Stock Up 11.3 %

The firm’s 50 day simple moving average is $17.77 and its 200 day simple moving average is $14.05. The company has a market cap of $4.28 billion, a price-to-earnings ratio of -2.87 and a beta of 2.59. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 EPS for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The firm had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue was down 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Insider Activity at Sunrun

In other news, Director Lynn Michelle Jurich sold 1,937 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total value of $35,311.51. Following the completion of the transaction, the director now directly owns 1,242,446 shares in the company, valued at $22,649,790.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeanna Steele sold 24,161 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the completion of the transaction, the insider now owns 310,617 shares in the company, valued at approximately $5,976,271.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lynn Michelle Jurich sold 1,937 shares of Sunrun stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $18.23, for a total transaction of $35,311.51. Following the completion of the transaction, the director now directly owns 1,242,446 shares in the company, valued at approximately $22,649,790.58. The disclosure for this sale can be found here. Insiders have sold a total of 174,029 shares of company stock worth $2,765,115 over the last ninety days. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RUN. BNP Paribas purchased a new position in Sunrun in the 1st quarter worth about $37,000. Duncker Streett & Co. Inc. purchased a new position in shares of Sunrun in the second quarter worth approximately $36,000. Parallel Advisors LLC increased its position in shares of Sunrun by 91.4% in the fourth quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock worth $62,000 after acquiring an additional 1,513 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of Sunrun by 41.9% during the fourth quarter. Manchester Capital Management LLC now owns 3,178 shares of the energy company’s stock valued at $62,000 after acquiring an additional 938 shares during the period. Finally, CWM LLC lifted its position in shares of Sunrun by 883.9% in the 2nd quarter. CWM LLC now owns 3,355 shares of the energy company’s stock valued at $40,000 after acquiring an additional 3,014 shares in the last quarter. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Company Profile

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.