Sunrun (NASDAQ:RUN) Shares Down 7.2% After Analyst Downgrade

Shares of Sunrun Inc. (NASDAQ:RUN) were down 7.2% on Monday after Royal Bank of Canada lowered their price target on the stock from $17.00 to $14.00. Royal Bank of Canada currently has an outperform rating on the stock. Sunrun traded as low as $6.71 and last traded at $6.73. Approximately 6,475,245 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 10,162,124 shares. The stock had previously closed at $7.25.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group reduced their price target on shares of Sunrun from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday. StockNews.com upgraded Sunrun to a “sell” rating in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Guggenheim downgraded shares of Sunrun from a “buy” rating to a “neutral” rating in a research report on Thursday, November 7th. Finally, Barclays decreased their target price on shares of Sunrun from $18.00 to $15.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.61.

Insider Activity at Sunrun

In other news, CEO Mary Powell sold 4,350 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the sale, the chief executive officer now directly owns 560,321 shares of the company’s stock, valued at $6,264,388.78. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.10, for a total value of $455,000.00. Following the completion of the transaction, the director now owns 941,753 shares of the company’s stock, valued at approximately $8,569,952.30. This represents a 5.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,064 shares of company stock worth $1,551,556 over the last three months. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RUN. Blue Trust Inc. grew its holdings in shares of Sunrun by 385.5% during the third quarter. Blue Trust Inc. now owns 1,845 shares of the energy company’s stock worth $33,000 after purchasing an additional 1,465 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Sunrun by 1,706.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,734 shares of the energy company’s stock valued at $31,000 after purchasing an additional 1,638 shares during the period. First Trust Direct Indexing L.P. grew its stake in Sunrun by 21.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,612 shares of the energy company’s stock worth $372,000 after buying an additional 3,676 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in Sunrun during the 3rd quarter worth approximately $255,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Sunrun by 1.8% in the third quarter. Van ECK Associates Corp now owns 50,105 shares of the energy company’s stock valued at $905,000 after acquiring an additional 886 shares during the period. 91.69% of the stock is owned by institutional investors and hedge funds.

Sunrun Trading Down 6.8 %

The business’s 50-day moving average price is $9.28 and its 200-day moving average price is $13.04. The firm has a market capitalization of $1.52 billion, a PE ratio of -3.71 and a beta of 2.59. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15.

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.