Sunrun (NASDAQ:RUN) Stock Price Down 5.5% Following Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN) 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 analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Sunrun to a “sell” rating in a report on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Piper Sandler downgraded Sunrun from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $11.00 in a research report on Friday, November 22nd. Susquehanna dropped their target price on shares of Sunrun from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. Finally, TD Cowen began coverage on Sunrun in a research report on Thursday, December 19th. They issued a “buy” rating and a $21.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.36.

Insider Activity

In other Sunrun news, 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 sale, the executive now directly owns 418,492 shares of the company’s stock, valued at $4,678,740.56. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $9.42, for a total value of $471,000.00. Following the completion of the sale, the director now directly owns 1,041,753 shares of the company’s stock, valued at approximately $9,813,313.26. The trade was a 4.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,830 shares of company stock worth $1,614,147. Corporate insiders own 3.77% of the company’s stock.

Institutional Trading of Sunrun

Several large investors have recently modified their holdings of RUN. Creative Planning boosted its position in shares of Sunrun by 0.3% during the 3rd quarter. Creative Planning now owns 290,259 shares of the energy company’s stock worth $5,242,000 after purchasing an additional 784 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock worth $905,000 after acquiring an additional 886 shares in the last quarter. Blue Trust Inc. grew its stake in Sunrun by 385.5% in the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock valued at $33,000 after acquiring an additional 1,465 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Sunrun by 1,706.3% during 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 in the last quarter. Finally, Drive Wealth Management LLC raised its position in shares of Sunrun by 4.5% during the third quarter. Drive Wealth Management LLC now owns 43,327 shares of the energy company’s stock worth $782,000 after purchasing an additional 1,884 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.

Sunrun Trading Down 9.1 %

The company has a market capitalization of $2.08 billion, a P/E ratio of -5.09 and a beta of 2.58. The business has a fifty day moving average of $10.22 and a 200-day moving average of $14.46. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.15 and a current ratio of 1.47.

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

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.