Sunrun (NASDAQ:RUN) Stock Price Down 3.4%

Sunrun Inc. (NASDAQ:RUN)’s stock price fell 3.4% during mid-day trading on Thursday . The company traded as low as $19.60 and last traded at $19.60. 4,614,452 shares changed hands during trading, a decline of 63% from the average session volume of 12,590,811 shares. The stock had previously closed at $20.30.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Oppenheimer boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped 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. BMO Capital Markets lifted their price objective on Sunrun from $17.00 to $20.00 and gave the stock a “market perform” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial restated a “hold” rating and issued a $18.00 target price (up previously from $12.00) on shares of Sunrun in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.98.

Sunrun Stock Down 5.8 %

The company has a market cap of $4.24 billion, a price-to-earnings ratio of -3.04 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.31 and a current ratio of 1.66. The business has a 50-day simple moving average of $18.45 and a 200-day simple moving average of $14.32.

Sunrun (NASDAQ:RUN) last issued its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share 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 2.41%. The firm had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue was down 11.2% compared to the same quarter last year. On average, equities analysts anticipate that Sunrun Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at Sunrun

In related news, insider Jeanna Steele sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $12.61, for a total transaction of $31,688.93. Following the completion of the sale, the insider now owns 312,774 shares in the company, valued at $3,944,080.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jeanna Steele sold 2,513 shares of Sunrun stock in a transaction on Monday, July 8th. The shares were sold at an average price of $12.61, for a total transaction of $31,688.93. Following the sale, the insider now directly owns 312,774 shares in the company, valued at approximately $3,944,080.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $12.62, for a total transaction of $58,834.44. Following the completion of the transaction, the chief financial officer now owns 283,098 shares of the company’s stock, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,675 shares of company stock valued at $2,243,289. 3.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. purchased a new position in Sunrun during the 2nd quarter worth $36,000. BNP Paribas purchased a new position in shares of Sunrun during the first quarter worth about $37,000. CWM LLC increased its position in 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 during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sunrun during the 2nd quarter valued at approximately $45,000. Finally, Headlands Technologies LLC acquired a new stake in Sunrun during the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.

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.