Sunrun (NASDAQ:RUN) Shares Gap Down Following Insider Selling

Shares of Sunrun Inc. (NASDAQ:RUN) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $11.37, but opened at $10.90. Sunrun shares last traded at $10.56, with a volume of 1,218,586 shares traded.

Specifically, CFO Danny Abajian sold 3,734 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $41,746.12. Following the sale, the chief financial officer now directly owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Paul S. Dickson sold 2,968 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $33,182.24. Following the transaction, the executive now directly owns 418,492 shares of the company’s stock, valued at approximately $4,678,740.56. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In other Sunrun news, CEO Mary Powell sold 4,350 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $11.18, for a total value of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RUN. Guggenheim downgraded Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Truist Financial reaffirmed a “hold” rating and issued a $12.00 price target (down previously from $18.00) on shares of Sunrun in a report on Tuesday, November 12th. Glj Research reissued a “sell” rating and set a $7.78 price objective on shares of Sunrun in a report on Thursday, November 7th. Jefferies Financial Group decreased their price objective on shares of Sunrun from $31.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, BMO Capital Markets dropped their target price on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.16.

Sunrun Trading Down 5.5 %

The firm’s 50-day simple moving average is $10.86 and its 200-day simple moving average is $14.78. The firm has a market capitalization of $2.41 billion, a PE ratio of -5.91 and a beta of 2.58. The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92.

Institutional Investors Weigh In On Sunrun

Several institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Sunrun by 1,706.3% in the third quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after acquiring an additional 1,638 shares during the period. Blue Trust Inc. grew its stake in shares of Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Sunrun during the 3rd quarter valued at about $44,000. Redwood Wealth Management Group LLC bought a new position in Sunrun during the 2nd quarter valued at approximately $56,000. Finally, Waldron Private Wealth LLC purchased a new stake in Sunrun in the 3rd quarter worth approximately $135,000. 91.69% of the stock is currently owned by hedge funds and other institutional investors.

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.