Sunrun (NASDAQ:RUN) Shares Down 8.1% – What’s Next?

by · The Markets Daily

Sunrun Inc. (NASDAQ:RUN – Get Free Report) shares traded down 8.1% on Monday . The company traded as low as $18.81 and last traded at $18.6160. 1,735,171 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 14,897,828 shares. The stock had previously closed at $20.25.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sunrun in a report on Wednesday, October 8th. Citigroup upgraded shares of Sunrun from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $26.00 in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on shares of Sunrun from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. TD Cowen boosted their price objective on Sunrun from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, UBS Group increased their target price on Sunrun from $16.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.54.

Read Our Latest Stock Report on RUN

Sunrun Trading Down 6.9%

The stock has a market capitalization of $4.37 billion, a P/E ratio of -1.62 and a beta of 2.35. The company has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 3.70. The business has a 50-day moving average price of $19.18 and a two-hundred day moving average price of $14.03.

Sunrun (NASDAQ:RUN – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The energy company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $724.56 million during the quarter, compared to the consensus estimate of $601.15 million. Sunrun had a positive return on equity of 14.19% and a negative net margin of 120.59%.Sunrun’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) earnings per share. On average, analysts expect that Sunrun Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Sunrun

In other Sunrun news, insider Jeanna Steele sold 4,475 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $21.71, for a total transaction of $97,152.25. Following the completion of the sale, the insider directly owned 361,789 shares in the company, valued at $7,854,439.19. This represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Danny Abajian sold 9,055 shares of Sunrun stock in a transaction on Monday, October 6th. The shares were sold at an average price of $19.35, for a total value of $175,214.25. Following the completion of the transaction, the chief financial officer owned 424,606 shares in the company, valued at approximately $8,216,126.10. The trade was a 2.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 281,535 shares of company stock worth $5,427,779 in the last three months. Company insiders own 3.37% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds have recently made changes to their positions in RUN. Cetera Investment Advisers lifted its stake in Sunrun by 34.7% in the 1st quarter. Cetera Investment Advisers now owns 87,569 shares of the energy company’s stock valued at $513,000 after purchasing an additional 22,547 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Sunrun during the 1st quarter valued at $134,000. US Bancorp DE grew its position in Sunrun by 107.6% during the 1st quarter. US Bancorp DE now owns 10,307 shares of the energy company’s stock worth $60,000 after acquiring an additional 5,342 shares during the last quarter. National Bank of Canada FI increased its holdings in Sunrun by 14.3% in the 1st quarter. National Bank of Canada FI now owns 29,374 shares of the energy company’s stock worth $172,000 after purchasing an additional 3,676 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in Sunrun by 11.3% in the first quarter. Townsquare Capital LLC now owns 279,733 shares of the energy company’s stock valued at $1,639,000 after purchasing an additional 28,395 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors and hedge funds.

About Sunrun

(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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