Sunrun (NASDAQ:RUN) Reaches New 12-Month Low Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN)’s stock price reached a new 52-week low on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $19.00 to $17.00. The Goldman Sachs Group currently has a buy rating on the stock. Sunrun traded as low as $9.13 and last traded at $9.23, with a volume of 9554300 shares trading hands. The stock had previously closed at $10.06.

A number of other brokerages have also recently commented on RUN. Glj Research restated a “sell” rating and set a $7.78 price objective on shares of Sunrun in a research note on Thursday, November 7th. Roth Mkm reduced their price target on Sunrun from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price objective (down previously from $18.00) on shares of Sunrun in a research report on Tuesday, November 12th. Piper Sandler cut shares of Sunrun from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $11.00 in a research report on Friday, November 22nd. Finally, UBS Group decreased their target price on shares of Sunrun from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.12.

Insider Buying and Selling at Sunrun

In related news, insider Jeanna Steele sold 2,624 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $16.35, for a total value of $42,902.40. Following the transaction, the insider now owns 305,636 shares in the company, valued at approximately $4,997,148.60. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mary Powell sold 6,415 shares of Sunrun stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $16.34, for a total transaction of $104,821.10. Following the completion of the sale, the chief executive officer now owns 569,368 shares of the company’s stock, valued at $9,303,473.12. This trade represents a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,691 shares of company stock worth $1,540,601. 3.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Greenvale Capital LLP raised its position in shares of Sunrun by 20.5% in the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the period. State Street Corp grew its position in Sunrun by 0.6% during the third quarter. State Street Corp now owns 9,159,711 shares of the energy company’s stock worth $165,424,000 after buying an additional 54,329 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sunrun by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,315,667 shares of the energy company’s stock worth $96,019,000 after buying an additional 30,549 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sunrun by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after acquiring an additional 729,633 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in shares of Sunrun in the 3rd quarter worth approximately $76,152,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Trading Down 9.0 %

The company has a 50 day moving average of $12.22 and a 200 day moving average of $15.16. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -5.03 and a beta of 2.54.

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.