Sunrun (NASDAQ:RUN) Shares Down 9.7% Following Analyst Downgrade

Sunrun Inc. (NASDAQ:RUN) shares were down 9.7% on Friday after Wells Fargo & Company lowered their price target on the stock from $20.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Sunrun traded as low as $10.47 and last traded at $10.48. Approximately 3,964,772 shares were traded during trading, a decline of 67% from the average daily volume of 11,875,731 shares. The stock had previously closed at $11.60.

Other analysts also recently issued research reports about the company. Morgan Stanley reissued an “overweight” rating and issued a $35.00 price target on shares of Sunrun in a report on Tuesday, September 24th. Guggenheim cut Sunrun from a “buy” rating to a “neutral” rating in a research note on Thursday. Oppenheimer lowered their price target on shares of Sunrun from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday. Barclays dropped their price objective on shares of Sunrun from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Finally, BNP Paribas lowered shares of Sunrun from an “outperform” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.33.

Insider Transactions at Sunrun

In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the completion of the sale, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Danny Abajian sold 4,869 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.35, for a total value of $79,608.15. Following the sale, the chief financial officer now owns 269,393 shares of the company’s stock, valued at $4,404,575.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,840 shares of company stock valued at $2,755,487. Corporate insiders own 3.77% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently bought and sold shares of RUN. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sunrun by 142.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 242,702 shares of the energy company’s stock worth $3,199,000 after acquiring an additional 142,563 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Sunrun by 181.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 6,361 shares of the energy company’s stock worth $84,000 after purchasing an additional 4,103 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Sunrun by 1.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 190,321 shares of the energy company’s stock valued at $2,508,000 after purchasing an additional 3,133 shares during the period. Empowered Funds LLC purchased a new stake in shares of Sunrun in the first quarter valued at $139,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Sunrun by 52.4% in the first quarter. Oppenheimer & Co. Inc. now owns 37,619 shares of the energy company’s stock worth $496,000 after buying an additional 12,936 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

Sunrun Stock Down 11.8 %

The business has a fifty day moving average price of $16.60 and a two-hundred day moving average price of $15.39. The firm has a market cap of $2.29 billion, a PE ratio of -1.61 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last released 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. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. On average, analysts anticipate that Sunrun Inc. will post -0.17 EPS for the current fiscal year.

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.