Insider Selling: Sunrun Inc. (NASDAQ:RUN) Director Sells 50,000 Shares of Stock

Sunrun Inc. (NASDAQ:RUN) Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lynn Michelle Jurich also recently made the following trade(s):

• On Friday, September 6th, Lynn Michelle Jurich sold 1,937 shares of Sunrun stock. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51.
• On Friday, July 19th, Lynn Michelle Jurich sold 50,000 shares of Sunrun stock. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00.

Sunrun Price Performance

Shares of RUN traded down $1.17 during mid-day trading on Thursday, hitting $19.13. The company’s stock had a trading volume of 11,433,477 shares, compared to its average volume of 12,630,714. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31. The firm has a 50-day moving average price of $18.45 and a 200 day moving average price of $14.32. Sunrun Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $22.26. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of -2.87 and a beta of 2.59.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company had revenue of $523.87 million for the quarter, compared to analysts’ expectations of $516.76 million. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was down 11.2% on a year-over-year basis. On average, research analysts predict that Sunrun Inc. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Sunrun

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sunrun during the second quarter valued at approximately $104,000. Sanctuary Advisors LLC acquired a new stake in shares of Sunrun in the second quarter worth $2,174,000. Cetera Investment Advisers grew its holdings in shares of Sunrun by 5.1% during the second quarter. Cetera Investment Advisers now owns 100,017 shares of the energy company’s stock valued at $1,186,000 after buying an additional 4,840 shares in the last quarter. Granite Bay Wealth Management LLC acquired a new position in Sunrun during the second quarter valued at $525,000. Finally, Greenvale Capital LLP boosted its position in Sunrun by 20.5% during the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock worth $139,355,000 after acquiring an additional 2,000,000 shares during the period. 91.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RUN has been the subject of several research reports. Morgan Stanley lifted their price target on shares of Sunrun from $31.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer upped their target price on Sunrun from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on Sunrun from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler upped their price objective on Sunrun from $20.00 to $23.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Sunrun from $12.00 to $16.50 and gave the company a “hold” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sunrun has a consensus rating of “Moderate Buy” and a consensus target price of $22.98.

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.