Sunrun (NASDAQ:RUN) Shares Down 3.6%

Sunrun Inc. (NASDAQ:RUN)’s stock price traded down 3.6% during mid-day trading on Wednesday . The company traded as low as $16.70 and last traded at $16.87. 1,940,413 shares were traded during mid-day trading, a decline of 84% from the average session volume of 12,297,674 shares. The stock had previously closed at $17.50.

Analyst Upgrades and Downgrades

RUN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Sunrun from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Oppenheimer raised their price objective on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. UBS Group boosted their target price on shares of Sunrun from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI reduced their price target on shares of Sunrun from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Sunrun in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.33.

Sunrun Trading Down 4.6 %

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 firm has a market capitalization of $3.73 billion, a P/E ratio of -2.62 and a beta of 2.59. The firm has a 50 day simple moving average of $18.75 and a two-hundred day simple moving average of $14.80.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. During the same period last year, the firm earned $0.25 earnings per share. The firm’s revenue was down 11.2% on a year-over-year basis. Equities research analysts forecast that Sunrun Inc. will post -0.16 earnings per share for the current year.

Insider Activity

In related news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares in the company, valued at $24,087,409.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lynn Michelle Jurich sold 50,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the completion of the sale, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Danny Abajian sold 4,662 shares of Sunrun stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the completion of the sale, the chief financial officer now directly owns 283,098 shares in the company, valued at approximately $3,572,696.76. The disclosure for this sale can be found here. Insiders sold a total of 178,675 shares of company stock valued at $3,253,289 over the last three months. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its stake in Sunrun by 91.4% during the fourth quarter. Parallel Advisors LLC now owns 3,168 shares of the energy company’s stock valued at $62,000 after acquiring an additional 1,513 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Sunrun by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after purchasing an additional 910 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Sunrun by 16.9% in the fourth quarter. Bank of Nova Scotia now owns 100,460 shares of the energy company’s stock worth $1,976,000 after purchasing an additional 14,513 shares during the period. KBC Group NV raised its position in shares of Sunrun by 31.0% in the fourth quarter. KBC Group NV now owns 324,665 shares of the energy company’s stock worth $6,373,000 after buying an additional 76,889 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Sunrun by 36.0% during the fourth quarter. First Trust Advisors LP now owns 2,172,728 shares of the energy company’s stock valued at $42,651,000 after buying an additional 575,293 shares during the period. 91.69% of the stock is owned by institutional investors.

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.