Sunrun (NASDAQ:RUN) Reaches New 52-Week Low – What’s Next?

Shares of Sunrun Inc. (NASDAQ:RUN) reached a new 52-week low on Thursday . The company traded as low as $5.91 and last traded at $5.93, with a volume of 6171934 shares traded. The stock had previously closed at $6.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RUN. Wells Fargo & Company lowered their target price on shares of Sunrun from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. 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, March 3rd. BNP Paribas upgraded shares of Sunrun from a “neutral” rating to an “outperform” rating and set a $16.00 price objective on the stock in a research note on Tuesday, January 7th. StockNews.com raised shares of Sunrun to a “sell” rating in a research note on Friday, December 20th. Finally, Barclays dropped their target price on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.20.

Sunrun Trading Down 3.3 %

The stock has a 50-day simple moving average of $8.03 and a 200 day simple moving average of $11.41. The company has a current ratio of 1.47, a quick ratio of 1.15 and a debt-to-equity ratio of 1.92. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -3.30 and a beta of 2.84.

Insider Activity at Sunrun

In related news, CEO Mary Powell sold 4,350 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $11.18, for a total transaction of $48,633.00. Following the completion of the transaction, the chief executive officer now directly owns 560,321 shares in the company, valued at $6,264,388.78. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Danny Abajian sold 3,734 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $11.18, for a total value of $41,746.12. Following the sale, the chief financial officer now directly owns 257,969 shares in the company, valued at $2,884,093.42. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,466 shares of company stock worth $1,136,397 over the last quarter. Insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On Sunrun

A number of hedge funds and other institutional investors have recently made changes to their positions in RUN. Wilmington Savings Fund Society FSB purchased a new stake in Sunrun during the third quarter worth $44,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Sunrun in the fourth quarter worth about $29,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Sunrun by 133.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the energy company’s stock worth $32,000 after acquiring an additional 2,000 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Sunrun during the 4th quarter valued at about $53,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Sunrun in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

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.