Sunrun (NASDAQ:RUN) Shares Down 5.5% After Analyst Downgrade

Sunrun Inc. (NASDAQ:RUNGet Free Report) dropped 5.5% during trading on Tuesday after Barclays lowered their price target on the stock from $18.00 to $15.00. Barclays currently has an equal weight rating on the stock. Sunrun traded as low as $9.63 and last traded at $9.63. Approximately 2,752,288 shares were traded during trading, a decline of 74% from the average daily volume of 10,654,386 shares. The stock had previously closed at $10.19.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group lowered their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Piper Sandler downgraded shares of Sunrun from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $11.00 in a report on Friday, November 22nd. Jefferies Financial Group lowered their target price on shares of Sunrun from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. Finally, BMO Capital Markets lowered their target price on shares of Sunrun from $20.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.36.

Get Our Latest Stock Report on RUN

Insider Transactions at Sunrun

In other news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $9.59, for a total transaction of $479,500.00. Following the transaction, the director now directly owns 991,753 shares of the company’s stock, valued at approximately $9,510,911.27. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $11.18, for a total transaction of $48,633.00. Following the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at approximately $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,830 shares of company stock valued at $1,614,147. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its holdings in Sunrun by 33.7% in the third quarter. Principal Financial Group Inc. now owns 1,460,949 shares of the energy company’s stock valued at $26,385,000 after acquiring an additional 367,835 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Sunrun in the third quarter valued at $76,152,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Sunrun by 113.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,515,302 shares of the energy company’s stock valued at $45,426,000 after purchasing an additional 1,337,302 shares during the last quarter. Aigen Investment Management LP bought a new stake in Sunrun during the third quarter valued at $955,000. Finally, Assenagon Asset Management S.A. increased its stake in Sunrun by 207.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,375,584 shares of the energy company’s stock valued at $24,843,000 after purchasing an additional 927,947 shares during the last quarter. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Up 1.4 %

The company has a quick ratio of 1.15, a current ratio of 1.47 and a debt-to-equity ratio of 1.92. The firm’s 50 day simple moving average is $10.20 and its two-hundred day simple moving average is $14.42. The stock has a market cap of $2.11 billion, a P/E ratio of -5.16 and a beta of 2.58.

Sunrun (NASDAQ:RUNGet Free Report) last released its earnings results on Thursday, November 7th. The energy company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.21). Sunrun had a negative net margin of 18.80% and a negative return on equity of 5.15%. The business had revenue of $537.17 million for the quarter, compared to the consensus estimate of $560.60 million. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts predict that Sunrun Inc. will post -0.41 earnings per share for the current fiscal year.

Sunrun Company Profile

(Get Free Report)

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.

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